Financial Regulators Issue Statement on Managing the LIBOR Transition

(July 1, 2020) – The members of the Federal Financial Institutions Examination Council (FFIEC) today highlighted the risks that will result from the transition away from LIBOR, and encouraged supervised institutions to continue their efforts to transition to alternative reference rates in order to mitigate financial, legal, operational, and consumer protection risks. The financial services […]

NCUA Board Reschedules July Meetings

ALEXANDRIA, Va. (July 1, 2020) – The National Credit Union Administration Board has rescheduled its July open and closed meetings, originally set for Thursday, July 16. Both meetings are now scheduled for Thursday, July 30. The open meeting will begin at 10 a.m. Eastern, and the closed meeting will follow immediately after the open meeting […]

NCUA Board Reschedules July Meetings

ALEXANDRIA, Va. (July 1, 2020) – The National Credit Union Administration Board has rescheduled its July open and closed meetings, originally set for Thursday, July 16. Both meetings are now scheduled for Thursday, July 30. The open meeting will begin at 10 a.m. Eastern, and the closed meeting will follow immediately after the open meeting […]

NCUA Releases Q1 2020 Credit Union System Performance Data

ALEXANDRIA, Va. (July 1, 2020) – Data on the financial performance of federally insured credit unions for the quarter ending March 31, 2020, are now available (opens new window) from the National Credit Union Administration. The NCUA’s Quarterly Data Summary Reports include an overview of the quarterly Call Report data as well as tables showing […]

NCUA Releases Q1 2020 Credit Union System Performance Data

ALEXANDRIA, Va. (July 1, 2020) – Data on the financial performance of federally insured credit unions for the quarter ending March 31, 2020, are now available (opens new window) from the National Credit Union Administration. The NCUA’s Quarterly Data Summary Reports include an overview of the quarterly Call Report data as well as tables showing […]

NCUA Chairman Rodney E Hood Statement on Supreme Court’s Decision on Field-of-Membership Lawsuit

ALEXANDRIA, Va. (June 29, 2020) – National Credit Union Administration Chairman Rodney E. Hood issued the following statement after the U.S. Supreme Court denied an appeal from the American Bankers Association to review the NCUA’s chartering and field of membership rules. “Today’s decision by the Supreme Court ends nearly four years of uncertainty and will […]

NCUA Chairman Rodney E Hood Statement on Supreme Court’s Decision on Field-of-Membership Lawsuit

ALEXANDRIA, Va. (June 29, 2020) – National Credit Union Administration Chairman Rodney E. Hood issued the following statement after the U.S. Supreme Court denied an appeal from the American Bankers Association to review the NCUA’s chartering and field of membership rules. “Today’s decision by the Supreme Court ends nearly four years of uncertainty and will […]

NCUA Chairman Hood’s Statement on Bimal Patel’s Departure from Treasury Department

ALEXANDRIA, Va. (June 30, 2020) – National Credit Union Administration Chairman Rodney E. Hood issued the following statement today commending Bimal Patel, who is stepping down as Assistant Secretary of the Treasury for Financial Institutions. “I got to know Bimal well during our confirmation hearing in 2019. He has committed his career to crafting and […]

NCUA to Delay Start of Phased Resumption of Onsite Operations

ALEXANDRIA, Va. (June 26, 2020) – Due to the evolving nature of the COVID-19 pandemic, the National Credit Union Administration is delaying the start of its phased resumption of onsite operations. The agency’s leadership determined, in consultation with public health professionals, that a delay was warranted based on a variety of factors, including recent trends […]

MDI Credit Unions Play A Critical Role In Fostering Financial Inclusion

Board Action Bulletin NCUA to Distribute $171.3 Million to Southwest Corporate Capital Holders ALEXANDRIA, Va. (June 25, 2020) – Using a live audio webcast, the National Credit Union Administration Board held its fifth open meeting of 2020 today and approved two items: A request for information on strategies for using digital technology to support the […]