Credit Union Journal wrote that 2015 was a noteworthy year on the regulatory front for the National Credit Union Administration (NCUA).
With the exception of NCUA' controversial risk-based capital rule, which the credit union industry opposed, the agency was active in easing the regulatory burden on credit unions.
NCUA provided regulatory relief to a number of credit unions by doubling the asset threshold size for a small credit union designation to $100 million.
Also, NCUA eliminated its fixed asset rule.
Furthermore, NCUA proposed sweeping changes to its member business lending rule and field of membership regulation, which the agency will likely finalize in 2016.
As I told Credit Union Journal, "Debbie Matz said she was going to [provide relief], and she delivered."
Read the story (subscription required).
You left out supplemental capital.
ReplyDeleteNCUA thwarting the will of Congress and exploring time and again that:
They're accountable to no one and rogue.
Congress has now "will".
Congress is dysfunctional.
Bank lobby is ineffective.
Credit union lobby (CUNA and Nafcu) are less effective than bank lobby.
NCUA is regulator, insurer and lobbyist.
NCUA remains unaccountable for lack of transparency on corporate credit union liability, overhead transfer, budget justification.
What are the "true up" numbers?
Really? For FCUs above $100M, there was little relief. The five percent cap on fixed assets was not a major rule. RBC will be the "reg of the next few years" as CUs begin to adjust operations to meet the requirements. Matz has not "delivered" to larger FCUs. When you add the burdens imposed by CFPB, the regulatory burden on most FCUs increased. Just means "The Compliance Officers Employment Act of 2015, 2016, 2017, 2018 and 2019" is in full effect.
ReplyDeleteWe in the credit union community would like her to deliver...her resignation.
ReplyDeleteI second that thought. Or have President Obama fire her. He has that authority since her term has ended. (remember President Clinton fired Norm D'Amours after his term ended)
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