National Credit Union Administration (ncua)
Recent News About National Credit Union Administration (ncua)
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NCUA reports rise in assets and loans among federally insured credit unions
Assets and loans at federally insured credit unions showed an increase at the median over the year ending in the third quarter of 2024, while shares and deposits experienced a decline, as reported by the latest NCUA Quarterly U.S. Map Review.
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Soul Community Federal Credit Union receives charter to serve Austell's low-income residents
The National Credit Union Administration (NCUA) has issued a federal charter and National Credit Union Share Insurance Fund coverage to Soul Community Federal Credit Union, located in Austell, Georgia.
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NCUA reports rise in credit union loans; net income declines
The National Credit Union Administration (NCUA) has released its financial performance data for the third quarter of 2024.
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Agencies outline strategies against elder financial exploitation
Five federal financial regulatory agencies, the Financial Crimes Enforcement Network (FinCEN), and state financial regulators have issued a statement to provide guidance on combating elder financial exploitation.
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NCUA announces board meeting schedule for upcoming year
The National Credit Union Administration (NCUA) Board has announced its meeting schedule for 2025.
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NCUA prohibits former Alhambra Credit Union employee from working in federally insured institutions
The National Credit Union Administration (NCUA) has issued a prohibition order against Daniel Garza, a former employee of Alhambra Credit Union in Phoenix, Arizona.
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Alliance Credit Union of Florida placed into conservatorship by state regulator
Florida's Office of Financial Regulation has placed Alliance Credit Union of Florida into conservatorship, appointing the National Credit Union Administration (NCUA) as conservator.
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CFPB orders Navy Federal Credit Union to pay $95 million over unfair fee practices
National Credit Union Administration Chairman Todd M. Harper issued a statement regarding the Consumer Financial Protection Bureau's (CFPB) settlement with Navy Federal Credit Union.
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Katherine Easmunt appointed as Chief Ethics Counsel by NCUA Board
The National Credit Union Administration (NCUA) Board has appointed Katherine Easmunt as the agency's Chief Ethics Counsel, effective November 3.
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NCUA issues prohibition notices against four former credit union employees
The National Credit Union Administration (NCUA) has issued three consent orders and one prohibition notice in October 2024.
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CFPB takes enforcement action against VyStar Credit Union following investigation
The National Credit Union Administration (NCUA) Chairman Todd M. Harper and Board Member Tanya F. Otsuka have commented on the Consumer Financial Protection Bureau's (CFPB) recent enforcement action against VyStar Credit Union.
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NCUA board discusses cybersecurity threats and charter modernization initiatives
The National Credit Union Administration (NCUA) Board convened for its seventh open meeting of 2024, where members received updates on cybersecurity and charter modernization efforts. The briefings highlighted significant trends and challenges facing the credit union sector.
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Regulators offer support to banks hit by Hurricane Milton
The Federal Deposit Insurance Corporation, the Federal Reserve Board, the Florida Office of Financial Regulation, the National Credit Union Administration (NCUA), and the Office of the Comptroller of the Currency have issued a statement acknowledging the significant impact of Hurricane Milton on financial institutions. These agencies have pledged to provide regulatory assistance to affected institutions.
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NCUA Chairman addresses Citadel Federal Credit Union's redlining settlement
National Credit Union Administration (NCUA) Chairman Todd M. Harper has commented on the U.S. Department of Justice's settlement with Citadel Federal Credit Union concerning allegations of lending discrimination. Citadel, a financial institution in Southeastern Pennsylvania, manages assets worth $6 billion.
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Regulatory bodies provide guidance for financial institutions post-Hurricane Helene
The Federal Deposit Insurance Corporation, the Federal Reserve Board, the National Credit Union Administration, the Office of the Comptroller of the Currency, and state financial regulators have issued a joint statement acknowledging the significant impact of Hurricane Helene on financial institutions. The agencies are committed to providing regulatory assistance to those affected under their supervision.
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NCUA prohibits two individuals from participating in federally insured depository institutions
The National Credit Union Administration (NCUA) has issued one consent and one prohibition notice in September 2024. The individuals named are permanently prohibited from participating in the affairs of any federally insured depository institution.
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NCUA reports decline in assets but rise in loans for Q2 2024
Total assets, shares and deposits, and membership at federally insured credit unions declined at the median over the year ending in the second quarter of 2024, while loans outstanding increased, according to the latest Quarterly U.S. Map Review released today by the National Credit Union Administration (NCUA).
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NCUA reports Q2 growth in credit union assets but notes rising delinquencies
The National Credit Union Administration (NCUA) has released its second-quarter 2024 financial performance data for federally insured credit unions. The report indicates a rise in total assets by $79 billion, or 3.5 percent, reaching $2.3 trillion over the year ending in the second quarter of 2024. The delinquency rate increased to 84 basis points, up 21 basis points from the same period in 2023. Net income for the first half of 2024 totaled $15.7 billion annually, a decrease of $1.8 billion or 10.1 percent from the previous year.
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NCUA awards over $3.5 million in community development revolving loan fund grants
The National Credit Union Administration (NCUA) announced the distribution of over $3.5 million in Community Development Revolving Loan Fund grants to 135 low-income-designated credit unions.
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NCUA prohibits former credit union employee from working in federally insured institutions
The National Credit Union Administration (NCUA) has permanently prohibited Luz Araceli Davila-Hernandez, a former employee of Magnifi Financial Credit Union in Melrose, Minnesota, from participating in the affairs of any federally insured depository institution. This action was taken through an Order of Prohibition.