Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
Mass. banking division earns accreditation across the board
BOSTON (6/4/14)--The Massachusetts Division of Banks has received accreditation from the National Association of Credit Union Supervisors (NASCUS), the Conference of State Bank Supervisors (CSBS) and the American Association of Residential Mortgage Regulators (AARMR).
 
Certification means that the division maintains the highest standards and practices for state banking, credit unions, and mortgage supervision as defined by each of the three supervisory bodies.
 
Massachusetts achieved accreditation in all three programs as part of a joint pilot program among CSBS, NASCUS and AARMR. The program is being developed to help states gain multiple accreditations at one time.
 
"This reaccreditation confirms that the division's regulatory programs are strong and positioned to protect Massachusetts consumers while ensuring the safety and soundness of the state financial system," said David Cotney, Massachusetts commissioner of banks. "Because of the CSBS, NASCUS and AARMR joint-review, the division was able to obtain several accreditations at once, saving time and allowing the division to focus more of its resources on supervision."
 
This is the division's fifth bank accreditation, receving the first in 1994. Massachusetts was first accredited by NASCUS in 1996. The division's initial mortgage accreditation was received in 2008--the first mortgage accreditation awarded as part of the nationwide program.


RSS print
News Now LiveWire
SunCorp and @AlloyaCorp have announced their intent to merge.
57 minutes ago
.@TheNCUA bars former employee of Southwest Communities FCU,Melissa Rosing,from work at any federally insured FI. http://t.co/owtVnPxVZT
1 hours ago
Fryzel added @TheNCUA is fed. governmt, thereby will B criticized, but always tried 2 do what is right. McWatters still 2 B sworn in.2of2
3 hours ago
Before @TheNCUA meeting adjourned, board member Fryzel said goodbyes, praised dedicated CU officials. 1of 2
3 hours ago
.@TheNCUA revised budget is down by $1.1 mil for year ending Dec 31, 2014. That brings total revised budget to $266,920,296.
4 hours ago