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FHLBanks Offer to Work with NCUA on Emergency Liquidity Issues

Feb
04
FHLBanks Offer to Work with NCUA on Emergency Liquidity Issues

The presidents of all of the Federal Home Loan Banks have written to the National Credit Union Administration (NCUA) in support of the use of the FHLBanks as a source of emergency liquidity for credit unions. In July 2012, NCUA issued a proposal that addresses emergency liquidity requirements for federally insured credit unions. The proposal would require credit unions with assets of $100 million or more to have access to a backup federal liquidity source for emergencies.

Posted By Sharon Bahr read more

NCUA Letter Says the Agency Is Addressing DoRs

Feb
04
NCUA Letter Says the Agency Is Addressing DoRs

Credit Union National Association (CUNA) has been urging the National Credit Union Administration (NCUA) to improve the examination process and provide more information to credit unions about its examination priorities and practices. Consistent with previous years, the agency has sent Letter 13-CU-01 to the board and chief executive officers of all federally insured credit unions regarding its supervisory focus for 2013.

Posted By Sharon Bahr read more

Missouri U.S. Reps Serve on Financial Services & Small Business Committee

Jan
29
Missouri U.S. Reps Serve on Financial Services & Small Business Committee

As the 113th Congress begins, four out of Missouri’s eight U.S.

Posted By Sharon Bahr read more

GAO Report: Dodd-Frank Regulations Still in Progress

Jan
25
GAO Report: Dodd-Frank Regulations Still in Progress

According to a Government Accountability Office (GAO) report released this week, although regulators have made progress in implementing some key reforms required by the Dodd-Frank Act, others remain incomplete, and the effectiveness of some implemented reforms remains to be seen.  The report examines the (1) overall status of U.S. financial regulatory reforms arising from the Act, (2) challenges affecting the implementation of these reforms, and (3) areas that pose continued risk.

Posted By Sharon Bahr read more

CU Mergers: Thresholds for Government Review Increased

Jan
25
CU Mergers: Thresholds for Government Review Increased

On January 10, 2013, the Federal Trade Commission (FTC) announced the annual revisions to the Hart-Scott-Rodino Act (HSR) filing thresholds for credit unions.  The updated thresholds are $70.9 million and become effective on February 11, 2013.  HSR requires some merging credit unions to submit prior notification of a merger to the FTC if the merging credit union’s assets on its latest call report are equal to or greater than the $70.9 million threshold.

Posted By Sharon Bahr read more

CFPB Officially Delays International Remittance Regulation

Jan
25
CFPB Officially Delays International Remittance Regulation

This week the Consumer Financial Protection Bureau (CFPB) officially announced in a blog post that it is delaying the effective date of its international remittance transfer rule that was set to go into effect on February 7, 2013.  The new effective date will be announced “later this year” and th

Posted By Sharon Bahr read more

FFEIC Releases Social Media Guidance & Requests Comments

Jan
25
FFEIC Releases Social Media Guidance & Requests Comments

The Federal Financial Institutions Examination Council (FFIEC) released proposed guidance entitled Social Media: Consumer Compliance Risk Management Guidance.

Posted By Sharon Bahr read more

IRS Issues Final FATCA Regulation

Jan
25
IRS Issues Final FATCA Regulation

The Internal Revenue Service (IRS) issued a final rule that implements information reporting and withholding tax provisions under the Foreign Account Tax Compliance Act (FATCA).  The rule describes the step-by-step process for U.S.

Posted By Sharon Bahr read more

Credit Union Leaders Attend Inaugural Events in Jefferson City

Jan
16
Credit Union Leaders Attend Inaugural Events in Jefferson City

Representatives from Missouri credit unions and the Missouri Credit Union Association (MCUA) were in Jefferson City to attend the inaugural events held January 13-14.  During the two-day event, credit union leaders met with lawmakers and other distinguished guests, including State Treasurer Clint Zweifel (D) who held an inauguration reception Sunday evening.

Posted By David Kent read more

CFPB Updates - 1/14/2013

Jan
14
CFPB Updates - 1/14/2013

CFPB Issues New Final Mortgage Rule & Associated Proposal

Posted By Sharon Bahr read more

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