NCUA’s Normal Operating Level should be returned to the historical 1.30%, CUNA wrote the agency in response to a request for comment for setting the NOL. NCUA adopted a policy for setting the NOL in 2017, establishing a periodic review of the equity needs of the share insurance fund.
NCUA issued a proposal on a complex credit union leverage ratio (CCULR) at its July 22 board meeting. CUNA supports the option for a CCULR when complying with NCUA’s risk-based capital rule, which was one of two options issued by the agency earlier this year as part of its review of the risk-based capital rule.
NCUA is partnering with the Consumer Financial Protection Bureau and the Federal Trade Commission to raise awareness on important consumer financial protection issues related to servicemembers and their families during a webinar that will take place on July 28, beginning at 2 p.m. ET, as part of Military Consumer Month.
NCUA will issue proposal on a complex credit union leverage ratio at its July 22 meeting.
NCUA proposed two potential approaches to simplify RBC requirements in January, with the complex credit union leverage ratio being one of them.
NCUA announced it is “prepared to move into its first phase of resuming onsite operations (Phase 1) in some areas of the country," which includes NCUA staff and contractors being permitted to volunteer to work onsite at credit unions beginning July 19.
NCUA, in its role as liquidating agent, announced Monday an $865.5 million distribution to the 1,800 membership capital account holders of the former Members United, Southwest Corporate, and U.S. Central corporate credit unions.
Federally insured credit unions continued to experience double digit asset and share-and-deposit growth over the year ending in the first quarter of 2021, according to the latest Quarterly U.S. Map Review released Friday by NCUA.
NCUA finalized rules on the current expected credit loss transition methodology and capitalization of interest Thursday at its board meeting. The board also voted to affirm the 18% interest rate cap on loans made by federal credit unions through March 2023.
NCUA will host credit union leaders, credit union trade and support organizations, and diversity and inclusion professionals during the agency’s second Diversity, Equity, and Inclusion Summit. This three-day event will take place virtually Nov. 2 through 4.
CUNA and Leagues wrote to NCUA Friday encouraging the agency to pursue additional tools to aid credit unions facing Prompt Corrective Action (PCA) and other capital challenges. CUNA and the Leagues thanked NCUA for the Interim Final Rule that provides some relief, but highlights that Congressional action is needed for additional flexibility.