Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

Washington
NCUA may gather monthly data on large CU financials
WASHINGTON (12/29/11)--The National Credit Union Administration (NCUA) recently posted notice in the Federal Register that it will begin to gather information on large credit union financial statement, as well as their compensation and perks packages to board members.

The agency, in its Federal Register document, said that the request to monitor such trends among credit unions of $1 billion of more in assets is an extension of current authority. It added that the closer monitoring is necessary because problems at such large institutions would obviously mean a bigger hit to the National Credit Union Share Insurance Fund if trouble were to arise undetected.

The NCUA proposed that the large credit unions be tasked with reporting financials and board packages on a monthly basis so the agency can effectively monitor trends between onsite visits.

Comments will be accepted until Jan. 26.

See resource link for NCUA's Federal Register posting.
Other Resources

RSS





print
News Now LiveWire
.@CUNA says new House bill is "further evidence" of lawmakers' interest in how @TheNCUA uses its funds from CUs. See News Now Monday.
3 hours ago
.@MECreditUnions announces winner of @YoungFreeME #SoundOff contest. @Sassquatch_Band will play Old Port Festival in June @PDD_Downtown
1 day ago
House Financial Services Com. to hold March 3 hearing to receive the semi-annual report of @CFPB Director Richard Cordray.
1 day ago
Rep. Jeff Miller (R-Fla.) re-introduced bill to ease veterans' access to loans for #smallbusiness purposes from a #creditunion (HR 1133)
1 day ago
You can get your subscription to @cuna 's free, daily, online #creditunion #news service News Now here: http://t.co/YtUejEmAYP
1 day ago