February 6, 2012

CUNA Urges Congress to Pass Exam Fairness Bill

West Virginia Credit Union League President/CEO Ken Watts, testifying before federal lawmakers on behalf of CUNA, said having the congressional spotlight turned on examination fairness issues will lead the National Credit Union Administration and other regulators to take steps to ensure that examiners treat financial institutions fairly. (page 1)

NCUA IRR Rule is ‘Overkill’

The National Credit Union Administration’s new interest rate risk (IRR) regulations are “regulatory overkill” and only increase “the already hefty regulatory burden on credit unions,” according to CUNA President/CEO Bill Cheney. CUNA has noted that the credit unions subject to the rule account for more than 90% of all credit union members. (page 1)

NCUA Plans Improvements to TDR Rules

Proposed modifications to the National Credit Union Administration’s rule governing Troubled Debt Restructured (TDR) loans would allow credit unions to modify such loans without having to immediately classify them as delinquent or track each TDR loan’s performance manually for six months. CUNA and the leagues have informed the agency of credit union concerns that current reporting requirements discourage them from providing TDRs. (page 3)

Biz Reps to ‘Hike the Hill’ for MBLs

Small business owners, accompanied by small business trade group and think-tank representatives, are fanning out across Capitol Hill this week in support of expanded member business lending (MBL) authority for credit unions. About 75 small business representatives from 15 states are expected to visit their lawmakers Tuesday and Wednesday to show the link between small business needs for credit and credit unions’ desire to help fill that need. (page 7)

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