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National Credit Union Administration Regulatory Requirements

Troutman Pepper Locke

Federal Agencies Issue Order Granting Exemption for Financial Institutions on TIN Collection

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The Office of the Comptroller of the Currency (OCC), alongside the Federal Deposit Insurance Corporation (FDIC) and the National Credit Union Administration (NCUA) (collectively, the agencies), with concurrence from the...more

Orrick, Herrington & Sutcliffe LLP

GAO report focuses on AI use in financial services

On May 19, the GAO published a report discussing the use and oversight of AI in financial services. The report highlighted the benefits of AI, such as improved efficiency, reduced costs, and enhanced customer experience,...more

Paul Hastings LLP

Daily Financial Regulation Update -- Monday, April 21, 2025

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April 18, 2025 - The Federal Reserve and the Office of the Comptroller of the Currency have conditionally approved the merger of Discover Bank, Greenwood, Delaware, into Capital One, National Association, McLean, Virginia....more

Paul Hastings LLP

Daily Financial Regulation Update -- Wednesday, April 16, 2025

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April 15, 2025 - The Federal Reserve Board, Federal Deposit Insurance Corporation, National Credit Union Administration and Office of the Comptroller of the Currency temporarily paused certain appraisal requirements for...more

Orrick, Herrington & Sutcliffe LLP

NCUA updates policy on overdraft and NSF fee data collection

On March 3, the NCUA announced changes to its policy on the collection and publication of overdraft and NSF fee income data from credit unions. Previously, the NCUA required federally insured credit unions with assets...more

Ballard Spahr LLP

NCUA Rescinds Policy to Publish Credit Unions’ Overdraft and NSF Income

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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

Seward & Kissel LLP

Important Reminder About State-Chartered Credit Union Restrictions

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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

Mayer Brown

Some US Regulators Repropose Joint Rule on Incentive-Based Compensation

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On May 6, 2024, the Federal Deposit Insurance Corporation (FDIC), the Office of the Comptroller of the Currency (OCC), the Federal Housing Finance Agency (FHFA) and National Credit Union Administration (NCUA; collectively the...more

Sheppard Mullin Richter & Hampton LLP

South Dakota Lenders on Tight Deadline for BSA/AML Compliance

On January 12, South Dakota’s Division of Banking issued a mandate setting March 31, 2024 as the deadline for all South Dakota licensed money lenders and non-residential mortgage brokers to comply with their Bank Secrecy...more

Troutman Pepper Locke

NCUA Announces Supervisory Priorities for 2024

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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

Nelson Mullins Riley & Scarborough LLP

NCUA Announces New Cyber Threat Reporting Requirement

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

Morgan Lewis - All Things FinReg

Agencies Emphasize Risk-Based Due Diligence Approach for Charities and Nonprofits

The Agencies issued a joint Fact Sheet that lists considerations for a risk-based approach when it comes to charities and nonprofits. While the Fact Sheet purports to not impose additional obligations on banks, it is hard to...more

Ballard Spahr LLP

NCUA finalizes rule authorizing new payday loan alternative option

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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

Seyfarth Shaw LLP

National Credit Union Administration Issues Statement About Serving Hemp Businesses

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Following last year’s passage of the 2018 Farm Bill, the National Credit Union Administration (NCUA) issued a regulatory update in August of 2019 to federally insured credit unions. Citing growth in hemp-related commerce,...more

Ballard Spahr LLP

NCUA proposes second payday loan option

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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

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