NCUA Happenings
(Editor's note. I originally had a long and happy post on things happening at NCUA. Then the computer crashed, and the post was lost. As was the 30 minutes I spent putting it together. What follows is a shorter and crankier version.)
- NCUA recently released two Letters Credit Unions. The first highlights a new enhancement to NCUA's website - the Fraud Information Center. (The letter doesn't contain a link, and the webpage is hard to find on NCUA's website. See, I said this would be cranky.) You can access the page here. For credit union security guys and gals, this is a good resource. The second letter to credit unions highlights a FinCEN report that touches upon mortgage fraud. For credit unions that offer mortgages, this is a must read. As I always tell folks, NCUA just doesn't issue these letters for the fun of it. They expect that you'll read them.
- We're going to have a new NCUA Chairman. It never is clear how a new NCUA Board Member will affect NCUA's stance on regulations. But remember, Board Member Hood voted against data collection due to fears of regulatory burden. Only time will tell.
- While I am aware that the House recently passed a bill that contains regulatory relief for credit unions, nothing will happen without the Senate's help. Only time will tell. If this gets closer, I'll take a closer look at what it contains.