Consumer Protection and Safety and Soundness Perspective of Credit Union Regulation - The Consumer Finance Podcast
On July 18, America’s Credit Unions sent a letter to the Honorable Kyle Hauptman, Chairman of the National Credit Union Administration (NCUA), urging the agency to initiate rulemaking that would allow credit unions to take...more
Banks and credit unions may now rely on third parties to provide a consumer’s Social Security or Taxpayer Identification Number, according to an order issued by the FDIC, OCC and the NCUA with the consent of the Financial...more
Chairman Kyle S. Hauptman announced that the National Credit Union Administration (NCUA) will no longer publish overdraft and non-sufficient fund (NSF) fee income for individual credit unions with more than $1 billion in...more
This week, President Trump designated National Credit Union Administration (NCUA) Vice Chairman Kyle Hauptman as the thirteenth Chairman of the NCUA Board. Hauptman succeeds Todd Harper as NCUA Chairman. In the press release...more
On January 7, the National Credit Union Administration (NCUA) released its supervisory priorities for 2025, outlining the key areas of focus for federally insured credit unions. This guidance is crucial for credit unions as...more
During the past 12-18 months, we have noted a significant increase in the number of brokers underwriting share certificates issued by credit unions. It is vital for brokers in the credit union share certificate market to...more
On December 10, the National Credit Union Administration (NCUA) issued a letter to all federally insured credit unions, highlighting the risks associated with certain overdraft and non-sufficient funds (NSF) fee practices....more
On September 16, the NCUA released its Q2 2024 State-Level Credit Union Data Report, which covered the performance of federally insured credit unions over the year. According to the NCUA, the latest Quarterly U.S. Map Review...more
On July 30, 2024, the Federal Deposit Insurance Corporation (“FDIC”) Board of Directors approved a final rule that updates the FDIC’s regulations concerning Section 19 of the Federal Deposit Insurance Act, 12 U.S.C.§ 1829...more
The NCUA board on July 18 voted to maintain its interest rate ceiling on most loans at 18% from Sept. 11, 2024 through March 10, 2026. ...more
On February 6, 2024, National Credit Union Administration (NCUA) Chairman Todd M. Harper spoke at a Brookings Institution event to outline his regulatory agenda and supervisory priorities for 2024. His prepared remarks...more
As discussed, in a recent letter, the Chairman of the National Credit Union Administration (NCUA) outlined the agency’s supervisory priorities for 2024. In this post, we delve deeper into the area of consumer protection...more
On January 23, the Chairman of the National Credit Union Administration (NCUA) released a letter outlining its supervisory priorities for the new year. While the organization acknowledged that the credit union system had...more
On July 28, the Board of Governors of the Federal Reserve System (Federal Reserve), Federal Deposit Insurance Corporation, Office of the Comptroller of the Currency, and the National Credit Union Administration (NCUA)...more
The NCUA stated the new rule, which was approved on Feb. 16, 2023, aims to mitigate cyber incidents “that [lead] to a substantial loss of confidentiality, integrity, or availability of a network or member information system...more
The National Credit Union Administration (NCUA) has approved new cyber incident reporting requirements for credit unions. Under the final rule, federally insured credit unions will be required to notify the NCUA of a...more
On February 16, the NCUA approved a final rule that requires federally-insured credit unions (FICUs) to notify the agency as soon as possible (and no later than 72 hours) after a FICU “reasonably believes that a reportable...more
On January 27, the NCUA board unanimously voted to maintain the current temporary 18 percent interest rate ceiling for loans made by federal credit unions (FCUs) for another 18 months. ...more
Live Life Federal Credit Union, a $69 million-asset credit union based in Fraser, Michigan, recently consented to a cease-and-desist order issued by the National Credit Union Administration Board (NCUA). The enforcement...more
The National Credit Union Administration has published a final rule in the Federal Register that amend the NCUA’s general lending rule to provide federal credit unions (FCU) with a second option for offering “payday...more
On August 20, 2019, the National Credit Union Administration issued a regulatory alert to all federally insured credit unions providing "interim guidance" regarding the service of hemp businesses by credit unions. The alert,...more
On August 19, 2019, the National Credit Union Administration (“NCUA”) released Interim Guidance on Serving Hemp Businesses to federally insured credit unions on the developing federal law and regulation related to the hemp...more
The National Credit Union Administration has published a notice in the Federal Register proposing to amend the NCUA’s general lending rule to provide federal credit unions (FCU) with a second option for offering “payday...more
With a straight face, President Trump has issued an executive order on June 20th that would expand Apprenticeship opportunities in the US in order to expand jobs. The CFTC has adopted some final rules on records...more