News Topic: NCUA

About 2,000 credit unions will receive a disbursement in connection with the failure of three corporates during the financial crisis, but the agency indicated nearly $2 billion in additional payments could be coming. ]] ... Read full article

A new report from the regulator shows slower growth in membership and lending, as well as a decline in the number of credit unions reporting profits. ]] ... Read full article

Lawmakers this week will continue to discuss extending the Paycheck Protection Program, and the National Credit Union Administration is scheduled to hold its monthly board meeting. ... Read full article

Unify Financial is sponsoring a $300M securitization of prime auto loans. The $3.3 billion-asset institution is only the second CU to sell securities backed by auto loans since the NCUA gave the green light for credit union securitizations nearly four ... Read full article

The American Bankers Association has requested more time to respond to a proposal that would expand lending authority for credit union service organizations. ... Read full article

The industry saw deposits rise by nearly 20% last year, in part due to economic stimulus measures from the government. More of the same could be coming once President Biden signs the latest stimulus bill into law. ... Read full article

Lending slowed, credit allowances mounted and return on assets as well as other performance ratios weakened, according to year-end figures from the credit union regulator. ... Read full article

In remarks during CUNA’s online Governmental Affairs Conference, Vice Chairman Kyle Hauptman and board member Rodney Hood lambasted the lengthy process necessary for launching a new credit union. ... Read full article

Rodney Hood, a board member and former chairman for the credit union regulator, was selected to fill a seat previously held by Todd Harper, who was recently appointed NCUA chairman. ... Read full article

In remarks at CUNA’s online Governmental Affairs Conference, the chairman of the National Credit Union Administration called for the creation of new initiatives around compliance for fair credit reporting and truth in lending. ... Read full article

The industry will have to contend with thin margins on either side of the aisle in Congress and new priorities from regulators, experts said in a panel discussion held as part of CUNA's online Governmental Affairs Conference. ... Read full article

The regulator issued a prohibition order to Joseph Guagliardo, who admitted to taking more than $400,000 from the New York City-based institution over the course of nearly a decade. ... Read full article

The credit union regulator's unusual attempt to auction pricey items from a former chairman's office has revealed more about interoffice dynamics at the agency. ... Read full article

The sale has revived a long-running feud between former chairmen Mark McWatters and Rodney Hood, who tweeted, "Credit unions deserve better stewardship of agency resources.” ... Read full article

Todd Harper, chairman of the National Credit Union Administration, said new assessments are likely needed because of an influx of deposits, but industry groups and other board members say the agency should wait to see if the reserve ratio recovers on its ... Read full article

A plan to make expansion easier for credit unions is getting pushback not just from bankers, but also from the regulator's current chairman and a former board member. ... Read full article

Catherine Galicia formerly led the Consumer Financial Protection Bureau's legislative affairs division, and has extensive experience in banking and on Capitol Hill. ... Read full article

The credit union regulator's first prohibitions of 2021 relate to misuse of member funds at institutions in Alaska and Florida. ... Read full article