The NCUA board will vote on final rules involving credit union service organizations and the CAMELS rating system at its Oct. 21 meeting. The meeting will be available via live audio stream starting at 10 a.m. (ET) on NCUA.gov on Oct. 21.
Any changes to risk-based capital requirements—including the proposed adoption of a complex credit union leverage ratio—requires a delay of the Jan. 1, 2022 RBC effective date. CUNA continues to believe the the 2015 RBC rule is “functionally unnecessary.”
Federally insured credit unions with both the minority depository institution (MDI) and low-income designations are eligible to apply for NCUA's MDI mentoring grants now through Oct. 29. This grant round will provide approximately $100,000 to to support mentoring relationships.
NCUA will host a webinar, “Pathways to Safe and Affordable Account Access for Consumers,” Oct. 21 in recognition of International Credit Union Day. Registration is now open for the webinar, which is scheduled to begin at 2 p.m. ET.
CUNA encourages Congress to enact legislation that provides flexibility to NCUA to offer forbearance from prompt corrective action to otherwise healthy credit unions impacted by federally declared emergencies or disaster, as the pandemic caused lending to slow and deposits to increase.
The NCUA board approved an item to place NCUA's CUSO, field of membership shared facilities, and mortgage servicing rights final rules on upcoming board meeting agendas through the end of the year. It also approved a subordinated debt proposal Thursday.
NCUA is piloting a new post-examination survey that will allow credit unions to provide timely feedback to the agency while helping to standardize the feedback process, according to the agency’s latest Letter to Federal Credit Unions.
The NCUA will discuss a proposed rule on subordinated debt, among other topics, at its Sept. 23 meeting. The meeting will be streamed live on NCUA.gov starting at 10 a.m. (ET). The board will also vote on the 2021 mid-session budget.