Jan 28, 2021
NCUA, CFPB Full Memorandum of Understanding Released
The NCUA and the CFPB will attempt to coordinate their interpretations of regulatory compliance and proposed remedies for violation of rules at credit unions with…
Advocacy Works
Jan 27, 2021
SBA Taking Steps to Smooth Out First Draw PPP Loan Review
The U.S. Small Business Administration (SBA) announced it is taking steps to improve the First Draw Paycheck Protection Program (PPP) loan review so that small businesses have as much…
Jan 26, 2021
NCUA Issues New Regulatory Alert on CFPB’s Amendments to ATR/QM Rule
The National Credit Union Administration (NCUA) issued a new Regulatory Alert, 21-RA-01, on the Consumer Financial Protection Bureau’s (CFPB) two final rules amending the Ability-to-Repay/Qualified Mortgage…
Jan 26, 2021
NCUA Accomplishments
National Credit Union Administration (NCUA) Chairman Rodney E. Hood released selected accomplishments since he was sworn in as the eleventh Chairman of the NCUA in April 2019….
Jan 26, 2021
NCUA’s Streamlined CDFI Application Round Now Open
Federally insured, low-income credit unions seeking Community Development Financial Institution (CDFI) certification can now apply to use the National Credit Union Administration’s (NCUA) streamlined qualification…
Jan 25, 2021
Todd Harper Selected as New NCUA Board Chairman
As expected, President Biden appointed Democrat Todd Harper as chairman of the National Credit Union Administration (NCUA) board. “The team here at CrossState has had a long…
Jan 25, 2021
NCUA and Federal Banking Agencies Issue FAQs Regarding SAR and Other AML Requirements
The National Credit Union Administration (NCUA), jointly with the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Financial Crimes…
Jan 22, 2021
SBA Issues IFR on PPP Forgiveness Requirements, Loan Review Procedures
The Small Business Administration (SBA) Tuesday issued an interim final rule (IFR) regarding paycheck protection program (PPP) loan forgiveness and has updated several of its loan forgiveness…
Jan 21, 2021
CFPB Director Kathy Kraninger Resigns
CFPB Director Kathy Kraninger resigned her position Wednesday. Kraninger served as director since December 2018. The Biden transition team announced over the weekend that Rohit Chopra, who formerly served…
Jan 20, 2021
NCUA Board Approves Final Rule on the Role of Supervisory Guidance
The National Credit Union Administration (NCUA) Board unanimously approved by notation vote, a final rule that outlines and confirms the agency’s use of supervisory guidance. The proposed rule was issued on…