Search Results for agency_names:"National Credit Union Administration"

The National Credit Union Administration is holding an open public meeting via live webcast due to the COVID-19 pandemic. The meeting is scheduled for 10:00 a.m. on Thursday, February 18, 2021. During the meeting, the agenda includes a briefing on the Share Insurance Fund Quarterly Report, a discussion of rules concerning Joint Ownership Share Accounts, and a briefing about the Consolidated Appropriations Act of 2021's Emergency Capital Investment Program. For more information, contact Melane Conyers-Ausbrooks, the Secretary of the Board, at the provided phone number.

The National Credit Union Administration (NCUA) is asking for public comments on how it can improve its communication and transparency with federally insured credit unions. They aim to make their communications more efficient and clear to reduce the unnecessary burden on credit unions. The NCUA uses various communication methods such as its website, press releases, and letters, and seeks feedback on their effectiveness. They also want suggestions on how to improve their websites, including the presentation and usefulness of financial and economic data.

The NCUA Board has finalized a rule to adjust the maximum amounts of civil monetary penalties (CMPs) it can impose, based on inflation, as mandated by the Federal Civil Penalties Inflation Adjustment Act. These adjustments, which must be made annually, are calculated by comparing the consumer price index for previous years. The new rule takes effect immediately upon publication and applies to penalties assessed for violations from November 2, 2015, onward. The adjustments are largely technical and do not require public notice or comment.

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 holding an open meeting on Thursday, February 27, 2025, at 10:00 a.m. in the Board Room on the 7th floor at 1775 Duke Street, Alexandria, VA. During the meeting, the Board will discuss the Share Insurance Fund Quarterly Report and the designation of the NCUA Board Vice Chairman. For more information, individuals can contact Melane Conyers-Ausbrooks, the Secretary of the Board, at 703-518-6304.

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) Board is proposing a rule change that would allow federally insured credit unions to request exemptions from certain requirements for filing Suspicious Activity Reports (SARs). This rule is aimed at providing relief to credit unions that develop innovative ways to comply with the Bank Secrecy Act while ensuring safe and sound practices. The proposal includes a 30-day comment period for public feedback and outlines that exemptions may be granted conditionally or unconditionally after consulting with relevant agencies. This change aims to support financial institutions in using new technologies and approaches for monitoring and reporting financial crimes.

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.

The National Credit Union Administration (NCUA) is planning to submit an information collection request to the Office of Management and Budget (OMB) concerning the Truth in Lending Act (TILA), Regulation Z. This submission is part of a review in compliance with the Paperwork Reduction Act of 1995. TILA aims to facilitate informed credit decision-making and comparisons by mandating accurate disclosure of credit costs to consumers. Public comments on the proposed information collection are invited and should be submitted by March 8, 2021.

The National Credit Union Administration (NCUA) is revising its Call Report, Form 5300, which credit unions use to submit quarterly financial and statistical data. The changes, influenced by public comments, include the removal of certain accounts and the addition of new ones to improve monitoring of credit union activities. Notable revisions involve reporting on loans to officials, assets pledged, and maturity distribution of uninsured shares, with some proposals adjusted based on feedback. The updates aim to enhance oversight while managing the reporting burden and are scheduled to be effective by March 31, 2025.