Share Save Tagged with: 18-month exam cycle Credit Unions NCUA Regulatory Relief Data Provider Black Knight to Acquire Top of Mind 2 days ago Lawmakers Petition NCUA Chair for Regulatory Relief for Credit Unions Servicers Navigate the Post-Pandemic World 2 days ago Brian Honea’s writing and editing career spans nearly two decades across many forms of media. He served as sports editor for two suburban newspaper chains in the DFW area and has freelanced for such publications as the Yahoo! Contributor Network, Dallas Home Improvement magazine, and the Dallas Morning News. He has written four non-fiction sports books, the latest of which, The Life of Coach Chuck Curtis, was published by the TCU Press in December 2014. A lifelong Texan, Brian received his master’s degree from Amberton University in Garland. Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Print This Post in Daily Dose, Featured, Government, News Demand Propels Home Prices Upward 2 days ago Subscribe The Best Markets For Residential Property Investors 2 days ago Related Articles Previous: Vacant and Abandoned Properties: An ‘Issue of National Concern’ Next: Investors With Cash Beat First-Time Homebuyers to the Closing Table Home / Daily Dose / Lawmakers Petition NCUA Chair for Regulatory Relief for Credit Unions Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago February 18, 2016 1,196 Views 18-month exam cycle Credit Unions NCUA Regulatory Relief 2016-02-18 Brian Honea Sign up for DS News Daily About Author: Brian Honea The Best Markets For Residential Property Investors 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago A bipartisan group of 30 members of the U.S. House of Representatives, led by Reps. Frank Guinta (R-New Hampshire) and Rubén Hinojosa (D-Texas) has signed a letter to National Credit Union Association (NCUA) Chairman Debbie Matz asking for the 18-month exam cycle to be extended to well-run credit unions.In January, the FDIC approved an interim final rule that allows well-managed community banks and thrifts with less than $1 billion in assets to qualify for the 18-month on-site exam cycle. Previously, only financial institutions with less than $500 million were eligible for the 18-month exam cycle. The change affected more than 600 institutions, according to Comptroller of the Currency Thomas Curry.With the interim rule change, credit unions are the only federally regulated depository institutions that still fall under the strict 12-month exam cycle at the federal level. National Associatoin of Federal Credit Unions (NAFCU) President and CEO Dan Berger wrote a letter to Matz last month asking NCUA to lengthen the exam cycle for credit unions from 12 months to 18 months.On Thursday, Berger praised the efforts of the group of bipartisan lawmakers led by Guinta and Hinojosa.“We appreciate the leadership shown by Representatives Guinta and Hinojosa, and their colleagues from both sides of the aisle, in urging NCUA to return to an 18-month exam cycle,” Berger said. “Credit unions have been widely recognized by lawmakers and regulators for their prudent business model and for not causing the financial crisis. Credit unions are in particularly solid shape as an industry and do not require the additional burden of more-frequent exams. Extending the exam cycle for well-run credit unions will also help NCUA better allocate resources to address those institutions requiring more oversight.”The lawmakers, in their letter, noted that NCUA had made progress toward regulatory relief but stated there was more work to be done. In particular, they noted that Congress approved the 18-month exam cycle for banks last year and pointed out that such regulators as the OCC, FDIC, and Federal Reserve have begun to take steps toward an extended exam cycle for banks. Data Provider Black Knight to Acquire Top of Mind 2 days ago
Related posts:No related photos. Comments are closed. HR must congratulate BA directors’ pay cutsOn 2 Oct 2001 in Personnel Today Previous Article Next Article Solidarity among employees was very much in the air in the immediateaftermath of last month’s terrorist attack on the World Trade Center. However,cynics were waiting to see whether sentiment would translate into action ascompanies were forced to cut costs drastically in response to the economicfall-out of the attack. It seems that the board at BA, at least, have decided that they should taketheir share of the massive reduction in payroll that the company has announced.Last week chief executive Rod Eddington said board directors had agreed to takea 15 per cent pay cut and 600 managers below board level have been asked toaccept a 10 per cent cut. We should gloss over the fact that Eddington’sremaining salary and those of his boardroom colleagues will hardly be apittance, and applaud this unusual move. It is worth remembering that the phrase “fat cat” gained currencyat a time when board members, especially the leaders of privatised utilities,were awarding themselves large bonuses while simultaneously sacking legions ofstaff. Since then the press and trade unions have labelled business leaders fatcats whenever they have won big pay rises for poor performance. The BA move may not be much comfort for the 7,000 staff who face redundancy,but at least it shows that those at the top are taking a share of the pain. HR people should congratulate the BA board for making this gesture. For toolong top executives have been immune from the performance-related pay that isthe norm for the rank and file in today’s organisations. This state of affairshas long undermined the efforts of HR managers to link pay to performance intheir company’s culture. Other companies making mass redundancies should lookat BA as a bold example to follow.