Posts Tagged ‘Credit Union Watch’

Going POSTAL Act

by. Keith Leggett Like a bad penny, the idea of the Post Office offering banking services is being resurrected. Between 1910 and 1967, the U.S. Post Office offered banking services. However by the 1950s, [...]

NCUA: Credit union regulator or cheerleader?

by. Keith Leggett Once again, the National Credit Union Administration (NCUA) has confused its role as a credit union regulator for being the head cheerleader from the credit union industry. On July 2 NCUA Board [...]

104 credit unions late filing call reports, face fines

by. Keith Leggett The National Credit Union Administration (NCUA) announced that 104 credit unions were late filing their first quarter 2014 Call Reports. The agency in January warned credit unions that beginning with the first [...]

Too interconnected to fail

by. Keith Leggett Credit unions have had a history of being too interconnected to fail. Whenever a corporate credit union got into financial trouble, NCUA has stepped in to bailout credit unions. In January 1995, [...]

Large credit unions should report overdraft program

by. Keith Leggett Beginning with the March 31, 2015 Call Report, banks with at least $1 billion in assets will be required to report revenues from consumer overdraft-related service charges. This change in the call [...]

NCUA offering consulting services to small credit unions

by. Keith Leggett NCUA's Office of Small Credit Union Initiatives (OSCUI) provides free consulting services to small credit unions. OSCUI's website states that consulting services range from operational to strategic management. "OSCUI’s Consulting Program [...]

A disappointing CLF membership rate

by. Keith Leggett The National Credit Union Administration (NCUA) is putting its best face on a disappointing Central Liquidity Facility (CLF) report. NCUA reported that credit union membership in the CLF increased by 69 percent [...]

Why is NCUA a voting member on FSOC?

by. Keith Leggett The Dodd-Frank Act created the Financial Stability Oversight Council (FSOC). FSOC is made up of ten voting members and five nonvoting members. But should the National Credit Union Administration (NCUA) be a [...]

CFF transparency, not!

by. Keith Leggett I have been stonewalled by the National Credit Union Administration (NCUA) regarding two Freedom of Information Act (FOIA) requests for information about the Central Liquidity Facility (CLF). The first FOIA was seeking [...]

NAFCU overstates the impact of taxing credit unions

by. Keith Leggett The National Association of Federal Credit Unions (NAFCU) last week released a dubious study claiming that taxing credit unions would hurt the economy by reducing GDP and job growth. The study states [...]

Matz warns credit unions about cyber and interest rate risks

by. Keith Leggett In a speech before the Credit Union National Association, Debbie Matz, the National Credit Union Administration (NCUA) Chairman, stressed that credit unions needed to be prepared for volatile and rising interest rates [...]

Credit union CEO compensation grew by over 8 percent in 2013

by. Keith Leggett An article in the Long Island Business News (LIBN) (paid subscription) looked at the pay increases at credit unions. Citing results from Credit Union Executive Society survey, the LIBN stated "total credit [...]

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