NCUA’s proposal to issue exemptions from SAR regulations could benefit credit unions and should be adopted “as soon as reasonably practical,” CUNA wrote, believing it will enhance the NCUA’s ability to provide flexibility to credit unions in regard to SAR filing requirements.
NCUA's four funds again earned unmodified, or “clean,” audit opinions for 2020, according to audited financial statements released by the agency’s Office of the Inspector General. The complete 2020 financial statement audits are available on NCUA.gov.
NCUA and the IRS are co-hosting a webinar on the Earned Income Tax Credit and Volunteer Income Tax Assistance programs Feb. 23, starting at 2 p.m. (ET). NCUA and the IRS encourage credit unions, their members, and others to learn more about the benefits of these programs.
The NCUA board heard a briefing on the state of the NCUSIF Thursday, which ended with an equity ratio stands at 1.26%. Chairman Todd Harper said "the question is no longer if we have to assess the share insurance fund premium, but when and how much.”
NCUA’s proposed overdraft policy is part of the agency’s proactivity in adapting rules, regulations, and policies to ensure credit unions can meet evolving needs of their members, CUNA wrote in response to the proposal Tuesday.
NCUA will vote on a final rule on joint ownership share accounts at its February 18 board meeting. CUNA supports the joint ownership proposal, as it helps maintain parity with regulations that apply to banks.
NCUA Chairman Todd Harper said he looks forward to working with all stakeholders as NCUA responds to the economic fallout created by the pandemic, position for future challenges and strengthen its commitment to consumer financial protection.
NCUA will hold a webinar on February 11, starting at 2 p.m. (ET) that will provide participants with an update on Chairman Todd Harper’s priorities, the agency’s supervisory activities, and recently issued guidance and regulations, among other topics.
CUNA supports removing the prohibition for federal credit unions to purchase mortgage servicing rights, it wrote to NCUA Monday. NCUA’s proposal would explicitly permit a federal credit union to purchase mortgage servicing rights from other FICUs under certain circumstances.