ALEXANDRIA, Va.–With one board member saying he was doing so “begrudgingly,” the NCUA board has approved a final rule on the Complex Credit Union Leverage Ratio (CCULR) that sets a lower threshold than had been proposed and also sets out a new framework for Prompt Corrective Action (PCA) in 2022.
Fresh Today
ALEXANDRIA, Va.–The NCUA board has voted 3-0 to set the Normal Operating Level for the National Credit Union Share Insurance Fund at 1.33%, down from the current 1.38%.
WASHINGTON – The Federal Deposit Insurance Corp.’s board has approved a 2022 Operating Budget of $2.262 billion. The decision comes during the same week in which the NCUA board will consider the agency’s own budget—during its meeting today—and a week after it hosted a budget briefing.
CHICAGO–Continued expansion of lending, including to non-prime consumers, is expected to occur in 2022 with origination levels reaching or surpassing pre-pandemic levels, according to the newly released TransUnion Financial Services 2022 Consumer Credit Forecast.
ST. PETERSBURG, Fla.—Strong consumer purchasing has continued through the peak of the holiday shopping season, with mixed results among the larger retailers amid a shifting tone from the Fed on inflation, PSCU is reporting, citing data from its December PSCU Payments Index.
ALBUQUERQUE, N.M.– US Eagle FCU has become the first financial institution in the country to become certified for outstanding U.S. monetary banking protocols in banking cannabis and hemp operations.
MIDLAND, Mich.–Two more credit unions have announced year-end member givebacks.
WASHINGTON—One senator’s proposed “principles” for stablecoins were released during a hearing on Capitol Hill, during which the Senate discussed whether special purpose charters for stablecoin issuers should be created.
WASHINGTON–A final rule issued by the Office of the Comptroller of the Currency (OCC) seeks to rescind anti-redlining rules adopted in 2020 and replace them with regulations it and other federal agencies issued in 1996.
WASHINGTON–Mortgage performance improved at national banks by the end of the third quarter even though foreclosures at those financial institutions increased significantly, according to new federal data.