Senators question NCUA
Sens. Patrick Toomey (R-Pa.), Mike Johanns (R-Neb.) and Deb
Fischer (R-Neb.) have written to the National Credit Union Administration,
asking for justification for the agency's risk-based capital proposal.
Toomey, the ranking member of the Senate Banking subcommittee on financial
institutions and consumer protection, said the matter is of great interest to
him given its "potential impact on credit unions, their members and the
communities they serve." Toomey also expresses concern about adding
capital requirements to institutions rather than relying on a case-by-case
NCUA gives examiners
FinCEN guidance for marijuana accounts
In a letter to the Washington State Department of Financial Institutions
last week, Larry Fazio, director of the NCUA's Office of Examination Insurance,
said the agency has provided the U.S. Treasury Department's Financial Crimes
Enforcement Network (FinCEN) guidance to agency examiners, who are responsible
for determining the compliance of financial institutions that provide service
to marijuana-related businesses.
FinCEN's guidance notes that U.S. Department of Justice Attorneys
and law enforcement will devote enforcement resources to businesses that are
distributing marijuana to minors, criminal enterprises, states where it is not
legal, as well as several other scenarios. Read more on NCUA
on marijuana-based businesses.
New 2014 HMDA data
entry software release
The FFIEC has announced that 2014 HMDA and CRA Data Entry
Software Release 2 versions are available for calendar year 2014 data due March
3, 2015. NOTE: each software versions
are available for calendar year 2014 data due March 3, 2015. NOTE: each
software version is year-specific.