Is Cyber Risk Tool Now 'Voluntary' in Name Only?
A cybersecurity assessment tool designed to help financial institutions bolster their defenses against hackers and other cybercriminals is continuing to sow confusion among financial executives, with some arguing it is effectively imposing tougher standards on the industry.   more »
Several bankers left a high-profile meeting with the Financial Accounting Standards Board feeling more comfortable with a plan to change reserve accounting. The meeting was thrown into an abrupt recess after a FASB director and a bank lobbyist clashed over recent statements by FASB's chairman linking community banks to the financial crisis. more »
The House passed a bill Thursday 250-169 that would limit regulators' ability to force banks to cut ties with certain businesses despite Democratic fears that it could hamstring the Justice Department's ability to prosecute bankers responsible for the financial crisis. more »
NCUA reports conserved credit union has taken "several steps to address financial and management issues affecting the safety and soundness of its operations." more »
All it takes to bridge the divide between and credit unions and banks - and lawmakers on opposite ends of the political spectrum - is a controversial accounting change that threatens to harm members of both industries. more »
The Consumer Financial Protection Bureau announced Wednesday that too few institutions offer checking accounts that discourage or prevent overdraft charges, and those that do have not advertised them. more »
While most federal financial regulators use enforcement actions as a way to shape industry practices, the Consumer Financial Protection Bureau is taking that to a whole other level, frequently using orders as a substitute for new rules or guidelines. more »
State financial institution regulatory agencies in Idaho and Vermont have been approved for reaccreditation by the National Association of State Credit Union Supervisors (NASCUS) and the Conference of State Banking Supervisors (CSBS), in the wake of recent reviews, NASCUS announced. more »
ALEXANDRIA, Va. – The National Credit Union Administration said it issued six orders in January prohibiting the following persons from participating in the affairs of any federally insured financial institution: more »
Outsourcing has allowed CUs to offer broader services and improve convenience, but it also adds a complex risk dimension for credit unions to manage. more »
Alexandria, Va. – Twenty-two credit unions have agreed to pay civil monetary penalties for filing their third-quarter call reports late, the National Credit Union Administration said Wednesday. more »
WASHINGTON – Risks to financial stability have risen in the past year across several key areas, the Treasury Department’s Office of Financial Research said in a report to Congress issued Wednesday. more »
Credit union service organizations can begin to register with the NCUA’s CUSO Registry starting Feb. 1, the agency said Monday. more »
Pelican Asks: What's Your Story?
Pelican State CU asks members to share why they belong to the credit union, and one key theme emerges: helping a member during a specific time of need is what keeps them coming back through the door.