Search Results for agency_names:"National Credit Union Administration"

The National Credit Union Administration (NCUA) plans to submit an information collection request to the Office of Management and Budget (OMB) as part of their compliance with the Paperwork Reduction Act of 1995. This request concerns the regulation for Liquidity and Contingency Funding Plans, which is intended to ensure that federally insured credit unions manage liquidity risks effectively. The NCUA's rule, codified in 12 CFR 741.12, creates a tiered system based on asset size that requires various levels of planning and preparation among credit unions. Public comments on this submission are welcome until March 15, 2021.

The National Credit Union Administration (NCUA) is proposing a rule to raise the asset threshold for defining a credit union as "complex" from $50 million to $500 million. This change affects credit unions subject to risk-based net worth requirements. The proposal aims to provide credit unions more flexibility to offer loans and services to their members during the COVID-19 pandemic while maintaining financial safety. Comments on this proposed rule must be submitted by March 25, 2021.

The National Credit Union Administration (NCUA) is extending and revising the information collections it previously approved with the Office of Management and Budget (OMB) as required by the Paperwork Reduction Act of 1995. The collection includes forms related to chartering, field of membership amendments, and conversions concerning federal credit unions. Public comments on this collection are invited until January 13, 2025, and may be submitted online. The NCUA notes that an increase in applications for new charters and expansions has resulted in a higher burden in terms of time spent on these processes.

The National Credit Union Administration (NCUA) is proposing changes to the regulations governing Credit Union Service Organizations (CUSOs). The proposed rule aims to expand the types of loans CUSOs can originate to match any loan that a Federal credit union (FCU) may offer, giving credit unions more flexibility in their operations. Additionally, the rule seeks to broaden the investment power of FCUs in CUSOs, potentially allowing investment in organizations that serve the broader financial community, not just credit unions. The NCUA invites public comments on these proposals, which aim to enhance credit union competitiveness and cooperative efforts.

The National Credit Union Administration (NCUA) has issued a new rule aimed at improving succession planning for federally insured credit unions. This rule mandates that these credit unions create a written succession plan covering key positions and specifies that the plan must be regularly updated at least every 24 months. Responding to public comments, the NCUA has made several adjustments, such as reducing the frequency of required plan reviews and removing certain officials from the mandatory coverage list. The rule will take effect on January 1, 2026, giving credit unions time to prepare.

The National Credit Union Administration (NCUA) has adopted a final rule to clarify the role of supervisory guidance in regulating credit unions. This rule makes clear that supervisory guidance, unlike laws or regulations, doesn't have the force of law and does not create binding obligations. The NCUA won't take enforcement actions based on supervisory guidance but will use it to communicate expectations and provide examples of best practices. The rule is intended to ensure that guidance remains a helpful tool for both examiners and credit unions without creating legal obligations.

The National Credit Union Administration (NCUA) is updating its rules to increase the maximum civil monetary penalties to keep up with inflation, as required by several laws. These adjustments are made to ensure that penalties are effective and reflect current economic conditions. The adjustments will be effective immediately and apply to violations occurring from November 2, 2015, onwards. This rule change doesn't require public comment because it's mainly a technical update in line with legal requirements.

The National Credit Union Administration (NCUA) is holding an open meeting on Thursday, January 16, 2025, at 10:00 a.m. The meeting will take place in the Board Room, located on the 7th floor at 1775 Duke Street, Alexandria, VA. Visitors are required to enter through the Diagonal Road entrance. The agenda includes discussion of NCUA's 2025 Annual Performance Plan. For more information, Melane Conyers-Ausbrooks, Secretary of the Board, can be contacted at 703-518-6304.

The National Credit Union Administration announced a change to their previously scheduled meeting agenda. An item concerning the designation of the NCUA Board Vice Chairman was removed because urgent agency business required it and earlier notice wasn't possible. The change pertains to a meeting initially set for 10:00 a.m. on February 27, 2025. For further details, Melane Conyers-Ausbrooks can be contacted at 703-518-6304.

The National Credit Union Administration (NCUA) announced a closed meeting scheduled for 10:00 a.m. on Friday, March 21, 2025, at their board room in Alexandria, VA. The meeting was determined necessary on short notice to discuss personnel matters, which were not disclosed due to relevant exemptions. The public was informed that prior notice of the meeting could not be provided. For further inquiries, individuals were advised to contact Melane Conyers-Ausbrooks, the Secretary of the Board.