The National Credit Union Administration reminded Boards of Directors and CEOs of federally insured credit unions of their compliance obligation to collect and submit home mortgage data under the Consumer Financial Protection Bureau’s Regulation C ("Home Mortgage Disclosure Act").
News & Insights
The National Credit Union Association adopted amendments to regulations on indirect lending and leasing arrangements to members, "the purchase of loan participations and the purchase, sale, and pledge of eligible obligations and other loans."
The National Credit Union Administration notified all federally insured credit unions that as of September 1, 2023, they must report cyber incidents within 72 hours after becoming aware of the event or receiving a notification from a third party regarding a reportable incident.
The Federal Reserve Board, FDIC, OCC and National Credit Union Administration advised depository institutions to take steps to ensure access to contingency funding under a range of possible stress scenarios.
Banking agencies set a comment deadline of September 19, 2023 for proposed risk management guidance concerning "reconsiderations of value" in real estate transactions.