The National Credit Union Administration (NCUA) Board today proposed delaying by one-year implementation of the risk-based capital rule (RBC) to January 1, 2020; and modifying the definition of complex credit unions from $100 million to $500 million in assets.
The NCUA has proposed a rule to provide federal credit unions with an additional alternative option to offer payday alternative loans. Under the proposed framework, PALs II loans would be permitted up to $2,000, with no minimum, and a maximum loan term of up to 12 months.
Acting Director Mick Mulvaney has selected Brian Johnson, who currently serves as Principal Policy Director at the Bureau, to assume the responsibilities of Acting Deputy Director.
The National Credit Union Administration and other federal financial institutions regulators have issued a joint statement describing amendments to the Home Mortgage Disclosure Act.
Members of a federally insured credit union seeking a voluntary merger will now have access to more information and receive additional time to consider their votes under final rule approved by the National Credit Union Administration (NCUA) Board Thursday.
A federal District Court in New York just ruled that the structure of the Bureau of Consumer Financial Protection (BCFP) is unconstitutional. The ruling is at odds with a February ruling by the federal appeals court in Washington that upheld the BCFP's structure.
The National Credit Union Administration (NCUA) voted today to finalize a second field of membership rule, giving credit unions the option to submit a narrative application for a well-defined local community rather than being limited to a presumptive statistical community.
The final amendments reflect the evolution of the nation's check collection system from one that is largely paper-based to one that is virtually all electronic.
President Trump has announced that he will nominate Rodney Hood to serve on the National Credit Union Administration (NCUA) board, replacing the seat currently occupied by Rick Metsger whose term expired last August.
The White House announced late Saturday that President Trump intends to nominate Kathy Kraninger to replace Mick Mulvaney as head of the Bureau of Consumer Financial Protection.