Corporate Stabilization; Flood Insurance
Last week, NCUA held a closed board meeting. During that meeting, NCUA made a number of moves in an attempt to stabalize the corporate credit union system. The information they sent after that meeting (you can access additional details here) has raised a number of questions. I wish I had the answers.
For that reason, NAFCU is hosting a free webcast tomorrow, during which NCUA will explain how the corporate stabilization will affect the industry. Sign up for the webcast here. It is open to members and nonmembers.
***
Bank regulators keep hammering away with flood insurance-related civil money penalties. Bankers Online maintains this webpage to keep track of the penalties. As you'll see, there were a number of civil money penalties issued in December 08. Go hereto see an overview of NCUA requirements in this area. (The link will open a zip file that contains four flood-related guidance documents.)