#ncua

🌟NEW POST!🌟

I don’t want to keep doing this, you guys! Do you think I like Cassandraing all over the public library and Medicaid and the CFPB and the fucking FDIC????

Nevertheless, here I am once again lighting the beacons for a governmental institution so gd boring I had to trick you all into reading this with a salacious headline. The beacons are lit! Gondor calls for aid!

FDIC Insured Banking Doesn’t Mean What You Think It Means: The Truth About Securing Your Savings

Today we’re going to talk about a government agency you’ve probably never thought about much before: the Federal Deposit Insurance Corporation. But first, a little family history. My grandparents went through it. My grandmother endured a childhood in fascist Italy during World War II. At 12, she passed Nazi soldiers carrying supplies for the Italian resistance in her bike basket. She nearly…

NCUA introduces new licensing rules for credit unions to issue stablecoins. Public blockchain issuers now eligible for stablecoin licensing under NCUA. Credit unions can soon launch stablecoins with NCUA’s new proposal. The National Credit Union Administration (NCUA) has revealed its first-ever set of rules under the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act,…

"What a year 2019 was for #HiketheHill. In May, we saw #Oregon, #Washington, and #Idaho visit the Hill in an effort to help #creditunions ensure their voices were heard from elected representatives." 🏦😅

See the highlights in our blog here:  https://www.oaktreebiz.com/industry-news/hike-the-hill-credit-unions

New Post has been published on https://is.gd/7eg1lv

FRB News: Federal, state financial regulatory agencies issue interagency statement on supervisory practices regarding financial institutions affected by Hurricane Florence

WASHINGTON – The Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the National Credit Union Administration, and the state regulators recognize the serious impact of Hurricane Florence on the customers, members, and operations of many financial institutions and will provide appropriate regulatory assistance to affected institutions subject to their supervision.  The agencies encourage institutions operating in the affected areas to meet the financial services needs of their communities.

A complete list of the affected disaster areas can be found at www.fema.gov.

Lending: Financial institutions should work constructively with borrowers in communities affected by Hurricane Florence.  Prudent efforts to adjust or alter terms on existing loans in affected areas should not be subject to examiner criticism.  Modifications of existing loans should be evaluated individually to determine whether they represent troubled debt restructurings.  This evaluation should be based on the facts and circumstances of each borrower and loan, which requires judgment, as not all modifications will result in a troubled debt restructuring.  In supervising institutions affected by Hurricane Florence, the agencies will consider the unusual circumstances these institutions face.  The agencies recognize that efforts to work with borrowers in communities under stress can be consistent with safe-and-sound practices as well as in the public interest.

Temporary Facilities: The agencies understand that many financial institutions may face staffing, power, telecommunications, and other challenges in re-opening facilities after Hurricane Florence.  In cases in which operational challenges persist, the primary federal and/or state regulator will expedite, as appropriate, any request to operate temporary facilities to provide more convenient availability of services to those affected by Hurricane Florence.  In most cases, a telephone notice to the primary federal and/or state regulator will suffice initially to start the approval process, with necessary written notification being submitted shortly thereafter.

Publishing Requirements: The agencies understand that the damage caused by Hurricane Florence may affect compliance with publishing and other requirements for branch closings, relocations, and temporary facilities under various laws and regulations, as applicable.  Institutions experiencing disaster-related difficulties in complying with any publishing or other requirements should contact their primary federal and/or state regulator.

Regulatory Reporting Requirements: Institutions affected by Hurricane Florence that expect to encounter difficulty meeting the agencies’ reporting requirements should contact their primary federal and/or state regulator to discuss their situation.  The agencies do not expect to assess penalties or take other supervisory action against institutions that take reasonable and prudent steps to comply with the agencies’ regulatory reporting requirements if those institutions are unable to fully satisfy those requirements because of the effects of Hurricane Florence.

The agencies’ staffs stand ready to work with affected institutions that may be experiencing problems fulfilling their reporting responsibilities, taking into account each institution’s particular circumstances, including the status of its reporting and recordkeeping systems and the condition of its underlying financial records.

Community Reinvestment Act (CRA): Financial institutions, as applicable, may receive CRA consideration for community development loans, investments, or services that revitalize or stabilize federally designated disaster areas in their assessment areas or in the states or regions that include their assessment areas.  For additional information, institutions should review the Interagency Questions and Answers Regarding Community Reinvestment at https://www.ffiec.gov/cra/qnadoc.htm.

Investments: The agencies realize local government projects may be negatively affected by Hurricane Florence.  Institutions should monitor municipal securities and loans affected by Hurricane Florence.  Appropriate monitoring and prudent efforts to stabilize such investments are encouraged.

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