NCUA Signs Cooperation Agreement With CFPB, but Won’t Release Document

After signing a memorandum of understanding the National Credit Union Administration and Consumer Financial Protection Bureau announce that they will do a better job of coordinating the consumer protection supervision of credit unions with more than $10 billion in assets. To independently confirm that, you will have to file a Freedom of Information Request as they are not releasing the memorandum to the public.

Harper Blasts Agency Rulemaking, as NCUA Board Approves CUSO, Risk-Based Capital Proposals

At the January National Credit Union Administration board meeting, board member Todd Harper frequently found himself in the minority. Among other items, the board considered a proposed rule to change the definition of Complex Credit Union, a proposed rule that would expand permitted activities of Credit Union Service Organizations, and an advance notice of proposed rulemaking to make changes to the NCUA Risk-Based Capital.

NCUA Board Facing Potentially Contentious Issues

The agenda for the January board meeting of the National Credit Union Administration has been released. On the agenda is a rule on Risk-Based Net Worth, an Advance Notice of Proposed Rulemaking on the simplification of Risk-Based Capital Requirements, a proposed rule on CUSOs, a notice of proposed rulemaking on the CAMELS rating system and the agency’s annual performance plan.