Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
NEW: Matz Tells GAC: A 'New' NCUA Is Coming
WASHINGTON (2/25/13, UPDATED 10:30 a.m. ET)--National Credit Union Administration Chairman Debbie Matz Monday announced her plan for a "new" NCUA, one that will be more responsive to emerging risks, industry challenges and credit unions' needs. She delivered her message in a keynote address today at the Credit Union National Association's 2013 Governmental Affairs Conference.

"We're modernizing and revitalizing NCUA for an industry that is newly vibrant, increasingly complex and rapidly changing," Matz said. "NCUA is reassessing and retooling our business model. The rules of the road that guided credit unions in earlier decades may not meet your needs or your members' needs today. We must stay ahead of the curve."

Regulators, she said, have both a responsibility to protect the industry and to help it grow.

Matz told the audience of more than 4,200 credit union representatives some of the emerging challenges for credit unions include:
  • Interest-rate risk from long-term, fixed-rate loans;
  • Interest-sensitive deposits;
  • New technologies like mobile banking; and
  • Concentration of assets in the largest credit unions.
 

She vowed to continue her Regulatory Modernization Initiative and reviewed several major accomplishments, supported by CUNA, in the past year, including:

  • Addressing the agency's Troubled Debt Restructuring rule to keep more credit union members in their homes and ease credit union reporting burdens;
  • Removing red tape from the process of designating a low-income credit union, which she said has added more than 800 designations and encouraged more small business lending; and
  • Exempting more than two-thirds of all credit unions from certain NCUA rules by raising the asset threshold for small credit unions from $10 million to $50 million.
 Watch News Now Tuesday for more.


RSS print
News Now LiveWire
July issue of @TheNCUA Report is now available at: http://t.co/UD8EP3vr2E.
33 minutes ago
The Hill reports frmr Rep. Barney Frank will defend Dodd-Frank Act tomorrow at House Fin Serv hearing on impact 4 yrs after enactment.
55 minutes ago
.@pressrepublican lauds @DannemoraFCU for shred fest: 'truly important in this era of identity theft' http://t.co/hnJUBO1iSR
1 hours ago
Consumers stashing #cash in checking accounts: Moebs #NewsNow http://t.co/WPaPkzHufK
1 hours ago
.@CUANYtweets hiking the Hill today with young #creditunion professionals http://t.co/9xgH2Aw2OM
1 hours ago