Written by Michael Coleman, Regulatory Compliance Counsel
Today we just want to briefly highlight a couple things from NCUA that might be of interest.
NCUA Report. The November NCUA Report is now available. This month's issue covers:
- US Central Bridge Closing Ends Successful Effort to Stabilize Industry
- Chairman's Corner: One Day in the Life of the NCUA Chairman
- Board Perspective: Repairs Needed
- NCUSIF's Financial Position Improves as the Number, Assets of Problem Credit Unions Decline
- Strong Risk Management Is Essential When Using Cloud Computing Services
- When Does A Credit Union Need NCUA Approval for a Change in Official or Senior Executive?
- Private Mortgage Insurance Rules Made Simple
As always, the NCUA Report provides some interesting insight and information. For example, the article on Private Mortgage Insurance (PMI) provides a concise recap of the rules under the Homeowners Protection Act (HPA) concerning cancellation and termination of PMI on residential mortgage transactions. Also, the article on cloud computing provides an interesting overview of the risk management concerns and controls that credit unions using this technology should consider.
NCUA's November Board Meeting. The Board is meeting today. The agenda includes:
- NCUA’s 2013 Operating Budget.
- NCUA/NCUSIF Overhead Transfer Rate.
- Federal Credit Unions' Operating Fee Scale.
- Board Briefing on the Estimated 2013 Premium Ranges for the NCUSIF and the Corporate Stabilization Fund.