Monthly Archives: January 1970

Board Action Bulletin ALEXANDRIA, Va. (April 22, 2021) – Through a live audio webcast, the National Credit Union Administration Board held its fourth open meeting of 2021 and was briefed on two matters: Current cybersecurity events and trends affecting federally insured credit unions and the broader financial system. An interim final rule that temporarily modifies […]

$1.5 Million Available; Credit Unions Should Review Eligibility Before Applying ALEXANDRIA, Va. (April 15, 2021) – Low-income-designated credit unions seeking Community Development Revolving Loan Fund grants in 2021 will be able to apply between May 3 and June 26, the National Credit Union Administration announced today. “I want to encourage all eligible credit unions to […]

ALEXANDRIA, Va. (April 16, 2021) – The National Credit Union Administration Board approved, by notation vote, an interim final rule (opens new window) that temporarily modifies certain regulatory requirements to help ensure federally insured credit unions remain operational and able to provide needed financial services during the COVID-19 pandemic. “The latest round of stimulus spending […]

ALEXANDRIA, Va. (April 14, 2021) – Today, the National Credit Union Administration released its Office of Minority and Women Inclusion (OMWI) annual report detailing the agency’s progress in 2020 in advancing diversity, equity, and inclusion in its workforce. The report also highlights the agency’s efforts to ensure fair and inclusive business practices as well as […]

ALEXANDRIA, Va. (April 12, 2021) – National Credit Union Administration Chairman Todd M. Harper announced today he has appointed Samuel Schumach to serve as Deputy Director for External Affairs and Communications. “Sam brings a wealth of strategic communications and congressional relations experience to this position,” Chairman Harper said. “His deep set of public affairs skills, […]

(April 9, 2021) – The federal banking agencies, in consultation with the Financial Crimes Enforcement Network and the National Credit Union Administration, today issued a joint statement addressing how risk management principles described in the “Supervisory Guidance on Model Risk Management” relate to systems or models used by banks to assist in complying with the requirements of […]

Member Deposits Remain Protected up to $250,000 by the Share Insurance Fund ALEXANDRIA, Va. (March 31, 2021) – The National Credit Union Administration today liquidated Indianapolis’ Newspaper Federal Credit Union of Indianapolis, Indiana. Elements Financial Federal Credit Union of Indianapolis, Indiana, immediately assumed most of Indianapolis’ Newspaper Federal Credit Union’s shares. Elements Financial Federal Credit […]

(April 1, 2021) – The Federal Financial Institutions Examination Council (FFIEC) today announced the appointment of Susannah Marshall to the FFIEC’s State Liaison Committee (SLC). Marshall was designated by the Conference of State Bank Supervisors (CSBS) to serve on the SLC for a two-year term that begins today and continues through March 31, 2023. Marshall has served […]

(April 1, 2021) – Todd M. Harper, Chairman, National Credit Union Administration (NCUA), has been named Chairman of the Federal Financial Institutions Examination Council (FFIEC). His two-year term runs from April 1, 2021, through March 31, 2023. The Council also named Blake Paulson, Acting Comptroller of the Currency, Office of the Comptroller of the Currency (OCC), as […]

WASHINGTON (March 29, 2021) – Five federal financial regulatory agencies are gathering insight on financial institutions’ use of artificial intelligence (AI). The agencies seek information from the public on how financial institutions use AI in their activities, including fraud prevention, personalization of customer services, credit underwriting, and other operations.   The Federal Reserve Board, the Consumer […]