Yesterday, NCUA issued Legal Opinion Letter 12-0764 which amends the definition of "fleet" for purposes of NCUA's Member Business Lending regulation - specifically the LTV ratio requirement under 12 CFR 723.7(e).. The purpose of Regulation M is to assure that lessees of personal property are given accurate and meaningful disclosures of the terms and conditions of personal property leases. Creates exemption from commercial lending requirements (note not MBL requirements) for some credit unions with less than $250m in assets NCUA will follow publication of a final rule with extensive guidance, and a comprehensive examiner re-training program. (NCUA) to issue regulations for state-chartered and federally chartered credit unions “substantially similar” to the FRB Regulation DD (Reg. Written by Steve Van Beek. Official staff interpretations of the regulation are found in . While the NCUA does not require credit unions to meet these guidelines, the agency views them as reasonable benchmarks. To require regulated lending institutions to accept certain private flood insurance policies in addition to policies made available by the Federal Emergency Management Agency (comments due January 6, 2017) Press release and notice. (c) General rules - (1) Scope. Bank regulation in the United States is highly fragmented compared with other G10 countries, where most countries have only one bank regulator. The purpose of this letter is to notify you of 2013 developments in the National Credit Union Administration (NCUA) Fair Lending Examination Program. Lawmakers have put forth discussion draft legislation that would amend the Bank Service Company Act in order to provide NCUA and the Federal Housing Finance Agency with third-party vendor oversight for the purpose of cybersecurity protection. Moreover, staff said the agency is seeking to consolidate all the capital-related regulations for natural-person CUs in a single place under part 702. These developments include new fair lending educational and compliance tools to help federal credit unions comply with fair lending laws, and the institution of off-site supervision contacts in certain instances. Share certificates are comparable to certificates of deposit at other financial institutions.5 Share drafts are third party transfers, which are similar to checking accounts. “The NCUA’s disappointing decision to allow large credit unions that already benefit from a federal tax-exemption to issue subordinated debt to sophisticated, for-profit investors will only fuel their increasing market-share, crowding out smaller credit unions and community banks,” said ABA President and CEO Rob Nichols. The changes do not require federal credit unions to change their processes or procedures. Regulation is the process of governments passing laws to control certain activities, often restricting some business activities. "The Regulations on Business Loans." Regulation E This regulation protects individual consumers engaging in electronic fund transfers and carries out the purposes of the Electronic Fund Transfer Act, which establishes the basic rights, liabilities, and responsibilities of EFT consumers of financial institutions that offer these services. Fischmann is leaving her position as the associate general counsel, ethics, and designated agency ethics official for … Accessed June 29, 2020. Accessed June 29, 2020. • The Fair Credit Reporting Act (15 USC §1681, et al.). Risk-based net worth: In an effort to provide additional regulatory relief amid the coronavirus pandemic, the NCUA plans to propose a rule to temporarily raise the asset threshold for defining a credit union as complex for the purposes of risk-based net worth requirements to assets exceeding $500 million and a risk-based net worth requirement in excess of 6 percent. NCUA Lending Regulations Presented by Elizabeth M. Young LaBerge, NCCO, NCRM, CIPP/US NAFCU Senior Regulatory Compliance Counsel Monday, August 12, 2019 3:15 –4:15PM. The NCUA Board approved final rul e cha n ges to the lending rules for federal credit unions. Systems according to a passbook savings account a dividend, although it is treated interest., no one expects you to know these rules inside and out the regulation found... 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