WASHINGTON (4/2/13)--This week's Regulatory Advocacy Report takes readers on a fresh tour of the hottest regulatory developments to affect credit unions.
Topics include the National Credit Union Administration's release of improved information regarding the Temporary Corporate Credit Union Stabilization Fund (TCCUSF), the Financial Accounting Standards Board's extension of a comment period on its credit loss proposal, and the Consumer Financial Protection Bureau's request for information on initiatives to promote student loan affordability, to name a few.
The Credit Union National Association's weekly members-only publication on regulatory developments shared the NCUA's questions and answers regarding the costs of the resolution of the five failed corporate credit unions through TCCUSF, as well as the agency's chart intended to explain financial projections for the fund.
CUNA has been urging the agency to provide much more information and clearer information to the credit union system on the handling of the corporate stabilization fund and CUNA senior staff Bill Hampel and Mary Dunn met with key agency officials on this again just weeks before the new information's release.
The NCUA chart shared in the RAR helps to explain the NCUA's projections for the fund.
As reported by CUNA's News Now last week, the top of the range of projected assessments has declined $900 million and total future remaining assessments are now projected to range between $1.6 billion and $3.9 billion, according to the agency. As recently as October 2012, the total range was $1.9 billion to $4.8 billion.
To read the full report, employees or volunteers of CUNA and state credit union league member credit unions can sign up below to receive the Regulatory Advocacy Report.
The Regulatory Advocacy Report is archived on cuna.org.