Credit Union Exam Solutions Presents With Flying Colors

Set up a call:https://calendly.com/cuexamsolutions/talk-to-mark-about-any-exam-topic?month=2024-10Check out our website:https://calendly.com/cuexamsolutions/talk-to-mark-about-any-exam-topic?month=2024-10Are you worried about an NCUA exam in process or looming on the horizon? Don't face it alone!We're ex-NCUA insiders with decades of experience, ready to guide you to success. Our team understands the intricacies of NCUA examinations from the inside out.Hire us and gain:• Peace of mind during your exam process• Insider knowledge of NCUA procedures and expectations• Strategies to address potential issues before they become problems• Continuous access to our extensive subject matter expertiseWith our access retainer, you'll have on-demand support from former NCUA experts. We're here to ensure your credit union passers its exam with flying colors in its next examination.Contact Credit Union Exam Solutions today to learn more about our services and how we can help your credit union succeed.Last Week In Credit Unions TodayHarper on vendor authorityhttps://www.americanbanker.com/opinion/credit-union-members-deserve-the-same-protection-as-bank-customers?utm_medium=email&utm_source=NCUAgovdeliveryCredit union members deserve the same protection as bank customers With that statutory expiration, the NCUA lacks the same authority that all other federal banking regulators have to oversee and examine the vendors that depository institutions use for critical services like information technology, loan underwriting, payments and mortgage originations. As a result, the credit union system is vulnerable to exploitation by the cybercriminals, terrorist financiers, fraudsters and other lawbreakers who threaten our nation's economic security and the financial well-being of our citizens.ECIPhttps://home.treasury.gov/policy-issues/coronavirus/assistance-for-small-businesses/emergency-capital-investment-programRichmond City Conservatorshiphttps://ncua.gov/newsroom/press-release/2022/richmond-city-employees-federal-credit-union-conservedBoard Agenda:ACTION ITEM: The NCUA Board’s approval of a proposed rule to amend the NCUA’s rules relating to loan participations and eligible obligations.SUMMARY: The proposed rule would amend the NCUA’s rules regarding the purchase of loan participations and the purchase, sale, and pledge of eligible obligations and other loans (including notes of liquidating credit unions). The proposed rule is intended to clarify the NCUA’s current regulations and provide additional flexibility for federally insured credit unions to make use of advanced technologies and opportunities offered by the financial technology sector. The proposal would also make conforming amendments to the NCUA’s rule regarding loans to members and lines of credit to members by adding new provisions regarding indirect lending arrangements and indirect leasing arrangements.Finally, the proposal would make other conforming changes and technical amendments in other sections of the NCUA’s regulations.ACTION REQUESTED: Board approval of the 2023 – 2024 operating budget, capital budget, and Share Insurance Fund administrative budget.RECOMMENDED ACTIONS: As detailed in the staff draft justification and modified by this board action memorandum, the NCUA Board approves: 1. The 2023 operating budget of $344,158,000 and 1,214 positions and the 2024 operating budget of $387,588,000 and 1,240 positions.FTX SBF ArrestedCUs, Banks May Exit Zelle if Required to Reimburse Scammed Users, NAFCU, Bank Trade Groups Say https://www.cutoday.info/Fresh-Today/CUs-Banks-May-Exit-Zelle-if-Required-to-Reimburse-Scammed-Users-NAFCU-Bank-Trade-Groups-SayWith Clock Ticking, NAFCU Reminds Congress of What It Would Like to Seehttps://www.cutoday.info/Fresh-Today/With-Clock-Ticking-NAFCU-Reminds-Congress-of-What-It-Would-Like-to-See

Set up a call:https://calendly.com/cuexamsolutions/talk-to-mark-about-any-exam-topic?month=2024-10Check out our website:https://calendly.com/cuexamsolutions/talk-to-mark-about-any-exam-topic?month=2024-10Are you worried about an NCUA exam in process or looming on the horizon? Don't face it alone!We're ex-NCUA insiders with decades of experience, ready to guide you to success. Our team understands the intricacies of NCUA examinations from the inside out.Hire us and gain:• Peace of mind during your exam process• Insider knowledge of NCUA procedures and expectations• Strategies to address potential issues before they become problems• Continuous access to our extensive subject matter expertiseWith our access retainer, you'll have on-demand support from former NCUA experts. We're here to ensure your credit union passers its exam with flying colors in its next examination.Contact Credit Union Exam Solutions today to learn more about our services and how we can help your credit union succeed.NASCUS, the National Association of State Credit Union Supervisors, is the body that advocates for a strong and healthy state credit union system. Its members include state regulatory agencies, credit unions, credit union leagues, and organizations that support the state credit union system. The NASCUS mission is to enhance state credit union supervision and advocate for a safe and sound credit union system. In this episode, I talk to NASCUS's CEO, Brian Knight. We discuss:·         NASCUS structure and membership,·         NASCUS Training Offerings,·         What might be coming in 2023 on the State and Federal Legislative Front,·         Trends in Credit Unions,·         And Much More.

Set up a call:https://calendly.com/cuexamsolutions/talk-to-mark-about-any-exam-topic?month=2024-10Check out our website:https://calendly.com/cuexamsolutions/talk-to-mark-about-any-exam-topic?month=2024-10Are you worried about an NCUA exam in process or looming on the horizon? Don't face it alone!We're ex-NCUA insiders with decades of experience, ready to guide you to success. Our team understands the intricacies of NCUA examinations from the inside out.Hire us and gain:• Peace of mind during your exam process• Insider knowledge of NCUA procedures and expectations• Strategies to address potential issues before they become problems• Continuous access to our extensive subject matter expertiseWith our access retainer, you'll have on-demand support from former NCUA experts. We're here to ensure your credit union passers its exam with flying colors in its next examination.Contact Credit Union Exam Solutions today to learn more about our services and how we can help your credit union succeed.In this episode I discuss:CFPB honing in on HELOCsNASCUS comments on onerous Sub-debt RuleCUNA and NAFCU comments on onerous member expulsionNCUA issues letter on virtual and in person board and member meeting requirementsNCUA Diversity Assessmentsand More on Crypto and FTX

Set up a call:https://calendly.com/cuexamsolutions/talk-to-mark-about-any-exam-topic?month=2024-10Check out our website:https://calendly.com/cuexamsolutions/talk-to-mark-about-any-exam-topic?month=2024-10Are you worried about an NCUA exam in process or looming on the horizon? Don't face it alone!We're ex-NCUA insiders with decades of experience, ready to guide you to success. Our team understands the intricacies of NCUA examinations from the inside out.Hire us and gain:• Peace of mind during your exam process• Insider knowledge of NCUA procedures and expectations• Strategies to address potential issues before they become problems• Continuous access to our extensive subject matter expertiseWith our access retainer, you'll have on-demand support from former NCUA experts. We're here to ensure your credit union passers its exam with flying colors in its next examination.Contact Credit Union Exam Solutions today to learn more about our services and how we can help your credit union succeed.marktreichel.comncuainterprehey, this is Mark Treichel with another episode of With Flying Colors. Today I want to chat about, , some things I've been picking up on by reading the American, , banker and also by listening to a podcast called the ABA Banking Journal, which I'm gonna play a snip of Pure, , shortly, but, There's some interesting things going on in the economy for many reasons, and there was an article in the American Banker, , that was called.There's an article in the American Banker called How Unrealized Bond Losses Are Hampering the Banking Industry. It's a fascinating article, but it talks about merger momentum slowing in banks because of the upside down nature of hold to maturity, investments, and other investments.If you will, but, in my mind, I think actually those unrealized bond losses in the credit union industry are likely going to speed up the mergers in credit unions. By the way, mergers in credit unions in 2022 were up about 20% over the 2021 rate. That's if you annualize the three quarters of this. Of this year into a full year., mergers are up about 20% and in a minute I'll tell you why I think mergers will likely be going up as well. But here's this, , a couple minute snippet of the ABA Banking Journal podcast that was published, , earlier or mid-November. So one final question for you. The, , um, you know, we, we, we've, we hear a lot about the, , we talk a lot in this industry about the, um, the credit union acquisitions of banks.Um, I, I don't think, I feel like we haven't seen as many in the, in the last year as we've seen kind of pre, pre pandemic, certainly. Um, what's the, what, what's your read on, , the long term tri on credit unions acquiring tax bank community? Well, you know, number one, um, I don't wanna, you know, downplay the concern that banking industry has over it, but there really haven't been that many in the whole scheme of things.Right. Um, you know, I mean, it's still a very, very small component of overall bank m and a. Um, that being said, , credit unions are able to pay cash to the seller and in an environment right now where you. The buying power of, , publicly traded banks is, , adjusting. Um, stock deals are maybe becoming a little more expensive.You know, people who can walk in, it's like buying a house. If somebody can walk in with a cash offer, you have to entertain it, right? So I think we'll see more credit union deals. I think, you know, thanks for better, for worse, have a responsibility to their investors to at least review those offers. , you know, um, and again, you know, it's gonna be hard to compete against a, a group that can pay cash and make the mathematics work like, like these credit union deals. All right, so that was interesting. I don't know if you caught it, but they talked about what do you think about the acquisition by credit unions?, Credit unions acquiring tax, paying community banks with a little needle there that it takes taxes out of the system if a, if a bank is acquired by a credit union, , which is there. The ABAs one argument about why it shouldn't be allowed. , and this is, I'm digressing a little bit, but , it was very interesting.The big difference between a bank acquiring another bank is they acquire it with stock. If stocks, if the stocks are down at both banks, it makes the acquisition less likely to go through at the banking level. Now, credit union deals are cash deals because there is no stock, and that makes them better deals.And as the, , guest on the show pointed out, I think at the dismay of the ABA person hosting it, , The credit unions are positioned to do it with cash and, , the bank stockholders have a duty to try and get the best return, which is why credit unions often win in that scenario. , but the article, so, so kind of linking that to the article, , the article in the American Banker says Merger momentum has slowed as bank valuations take a hit.And it goes on to say the unrealized bond l

Set up a call:https://calendly.com/cuexamsolutions/talk-to-mark-about-any-exam-topic?month=2024-10Check out our website:https://calendly.com/cuexamsolutions/talk-to-mark-about-any-exam-topic?month=2024-10Are you worried about an NCUA exam in process or looming on the horizon? Don't face it alone!We're ex-NCUA insiders with decades of experience, ready to guide you to success. Our team understands the intricacies of NCUA examinations from the inside out.Hire us and gain:• Peace of mind during your exam process• Insider knowledge of NCUA procedures and expectations• Strategies to address potential issues before they become problems• Continuous access to our extensive subject matter expertiseWith our access retainer, you'll have on-demand support from former NCUA experts. We're here to ensure your credit union passers its exam with flying colors in its next examination.Contact Credit Union Exam Solutions today to learn more about our services and how we can help your credit union succeed.Hey, this is Mark Treichel with another episode of With Flying Colors. The FTX fiasco, , is amazingly interesting. , it's kind of like driving by a. Crash on the highway. , and you hope that nobody, you know, was involved and lost any money or lost any lives. But, , there's a, a wonderful quote by, , billionaire, ,Warren Buffet who said, only when the tide goes out do you discover who's been swimming naked.Well, , that quote's been used a lot on different articles and different podcasts and different news articles that I've seen relative to this FTX situation. But today I want to talk about reputation, risk, and offering crypto to your members. So, , there's an article in American Banker dated yesterday by Claire William.And I would like to discuss the contents of that letter here on this podcast. The article is called F D I C, looking closely at Farmington State Bank in the FTX fiasco, the Federal Deposit Insurance Corporation and the Federal Reserve are looking closely at Farmington State. A small bank connected to the failed crypto exchange ftx.According to Acting FDI Seed chair Marty Greenberg Ft. FTX bankruptcy pause have revealed that Alameda Research, a hedge fund, affiliated with the exchange invested 11.5 million in the tiny Farmington State Bank, which now does business as Moonstone Bank in Washington State. That's a significant.Particularly get this for this bank, which has about 21.7 million of assets at the as of the second quarter and has only about 10 million in deposits for most of the decades. So this is extremely small for a bank, , and would be considered small on credit union standards. Article goes on to say that Revelation has spurred questions about Ft.X's reach within the banking system and Sam. Bankman Frees or SBF as he's been known to be called plans for it in the future, previously thought to be insulated from crypto turmoil. Bank regulators, including Gruenberg, have told Congress that their caution towards the crypto market has helped keep the traditional financial sector safe as crypto markets whipsaw.Greenberg in a press conference issued after the release of the agency's quarterly banking profile, said that the FDIC and the Fed are scrutinizing the Farmington situation. He's also considering other ways FTX might have ties to the banking sector. There's a lot of review as well that's going on withFTX. Gruenberg said, we're learning more about the operations of that company and whether there might be any additional connections to the banking system. We're not aware of them now, but there's a careful review ongoing. We'll see what it. Reveal. It's unclear to what extent regulators were involved in Alameda's investment into Farmington State Bank.Farmington was acquired by a holding company led. Jean Jin, the owner of Dell Tech Bank, whose best known client is the stablecoin issuer tether in 2020. After that, it applied and was approved by the Federal Reserve Bank of San Francisco in 2021. Then Alamia.Alameda acquired a stake of a little less than 10% than the bank just below the threshold for regulatory approval, huh? Just below the level for regulatory approval trying to stay off the radar in a press release. The bank said it has remained in close communication with our regulators. Throughout its business evolution and has built a robust processes, programs, and controls to ensure all of our activities comply with all applicable laws and regulations.It says that Alameda has only a non-controlling stake. And that FTX unwinding has unfairly affected its reputation. That's, so that's why I opened with reputation risk. Reputation risk, as you know, is something that NCUA examines you on... be careful offering apps that allow your members to buy crypto - yes it is buyer beware but they may blame you.  Is the risk worth the reward?marktreichel.com#linkedinbytreichel 

Set up a call:https://calendly.com/cuexamsolutions/talk-to-mark-about-any-exam-topic?month=2024-10Check out our website:https://calendly.com/cuexamsolutions/talk-to-mark-about-any-exam-topic?month=2024-10Are you worried about an NCUA exam in process or looming on the horizon? Don't face it alone!We're ex-NCUA insiders with decades of experience, ready to guide you to success. Our team understands the intricacies of NCUA examinations from the inside out.Hire us and gain:• Peace of mind during your exam process• Insider knowledge of NCUA procedures and expectations• Strategies to address potential issues before they become problems• Continuous access to our extensive subject matter expertiseWith our access retainer, you'll have on-demand support from former NCUA experts. We're here to ensure your credit union passers its exam with flying colors in its next examination.Contact Credit Union Exam Solutions today to learn more about our services and how we can help your credit union succeed.By notation vote, the NCUA Board approved moving management and oversight of Asset Management and Assistance Center (AMAC) activities from the Southern Region to an independent office led by the President of AMAC.The NCUA Board also approved by notation vote the transfer of examination and supervision responsibilities for the state of Ohio from the Eastern Region to the Southern Region. Seventeen full-time employees will transfer from the Eastern Region to the Southern Region to support the realignment. Both actions are effective January 1, 2023https://www.linkedin.com/in/mark-treichel/www.marktreichel.com/podcast

Set up a call:https://calendly.com/cuexamsolutions/talk-to-mark-about-any-exam-topic?month=2024-10Check out our website:https://calendly.com/cuexamsolutions/talk-to-mark-about-any-exam-topic?month=2024-10Are you worried about an NCUA exam in process or looming on the horizon? Don't face it alone!We're ex-NCUA insiders with decades of experience, ready to guide you to success. Our team understands the intricacies of NCUA examinations from the inside out.Hire us and gain:• Peace of mind during your exam process• Insider knowledge of NCUA procedures and expectations• Strategies to address potential issues before they become problems• Continuous access to our extensive subject matter expertiseWith our access retainer, you'll have on-demand support from former NCUA experts. We're here to ensure your credit union passers its exam with flying colors in its next examination.Contact Credit Union Exam Solutions today to learn more about our services and how we can help your credit union succeed.In this episode we discuss the fraud triangle and why NCUA will always do exams onsite.What is the Fraud Triangle?The fraud triangle is a framework commonly used in auditing to explain the reason behind an individual’s decision to commit fraud. The fraud triangle outlines three components that contribute to increasing the risk of fraud: (1) opportunity, (2) incentive, and (3) rationalization.

Set up a call:https://calendly.com/cuexamsolutions/talk-to-mark-about-any-exam-topic?month=2024-10Check out our website:https://calendly.com/cuexamsolutions/talk-to-mark-about-any-exam-topic?month=2024-10Are you worried about an NCUA exam in process or looming on the horizon? Don't face it alone!We're ex-NCUA insiders with decades of experience, ready to guide you to success. Our team understands the intricacies of NCUA examinations from the inside out.Hire us and gain:• Peace of mind during your exam process• Insider knowledge of NCUA procedures and expectations• Strategies to address potential issues before they become problems• Continuous access to our extensive subject matter expertiseWith our access retainer, you'll have on-demand support from former NCUA experts. We're here to ensure your credit union passers its exam with flying colors in its next examination.Contact Credit Union Exam Solutions today to learn more about our services and how we can help your credit union succeed.This is a quick take with Joe Goldberg - former head of NCUA's Fair Lending Program.NCUA examines federal credit unions with assets less than $10 billion; state supervisory authorities examine state-chartered credit unions with assets less than $10 billion; and the CFPB examines credit unions with assets over $10 billion.NCUA offers a number of fair lending resources for credit unions which are available on the Fair Lending Compliance Resources page. Materials include a fair lending guide, regulatory alerts, webinars, HMDA resources, exam procedures, and other related information.Fair lending laws and regulations include: the Equal Credit Opportunity Act (ECOA), and its implementing regulation, Regulation B; the Home Mortgage Disclosure Act (HMDA), and its implementing regulation, Regulation C; and the Fair Housing Act (FH Act). In addition, the National Credit Union Administration (NCUA) regulations contain nondiscrimination requirements for real estate-related loans. See 12 CFR § 701.31.At the conclusion of a fair lending examination, a credit union will receive a written examination report including an Overview, Supplementary Facts, Findings, Loan Exceptions and, if applicable, a Document of Resolution.At the conclusion of a supervision contact, a credit union will receive written results including an Overview, Supplementary Facts, and Findings. If the off-site supervision contact identifies deficiencies, OCFP will provide recommendations for corrective action.

Set up a call:https://calendly.com/cuexamsolutions/talk-to-mark-about-any-exam-topic?month=2024-10Check out our website:https://calendly.com/cuexamsolutions/talk-to-mark-about-any-exam-topic?month=2024-10Are you worried about an NCUA exam in process or looming on the horizon? Don't face it alone!We're ex-NCUA insiders with decades of experience, ready to guide you to success. Our team understands the intricacies of NCUA examinations from the inside out.Hire us and gain:• Peace of mind during your exam process• Insider knowledge of NCUA procedures and expectations• Strategies to address potential issues before they become problems• Continuous access to our extensive subject matter expertiseWith our access retainer, you'll have on-demand support from former NCUA experts. We're here to ensure your credit union passers its exam with flying colors in its next examination.Contact Credit Union Exam Solutions today to learn more about our services and how we can help your credit union succeed.NCUA had its November Board meeting with one item. Per the NCUA Board Action Bulletin:ALEXANDRIA, Va. (Nov. 17, 2022) – The National Credit Union Administration Board held its tenth open meeting—and third in person—of 2022. During the meeting, the NCUA’s Chief Financial Officer briefed the NCUA Board on the performance of the National Credit Union Share Insurance Fund for the quarter ending on September 30, 2022.“The Share Insurance Fund performed well in the third quarter,” NCUA Chairman Todd M. Harper said. “The changes in the interest rate environment over the last several months increased the income and earnings of the Fund.”The Share Insurance Fund reported net income of $26.2 million, $20.2 billion in assets, and $73.7 million in total income for the third quarter of 2022. The equity ratio for the Fund remains at 1.26 percent.Per NCUA policy, the equity ratio is updated on a semi-annual basis. The equity ratio as of June 30, 2022, was 1.26 percent, which remained the same from December 2021, and was calculated using an insured share base of $1.69 trillion on June 30, 2022.Additionally, for the third quarter of 2022:The number of composite CAMELS codes 4 and 5 credit unions increased 2.6 percent from the end of the second quarter, to 120 from 117. Assets for these credit unions increased 2.7 percent from the second quarter to $3.8 billion from $3.7 billion.The number of composite CAMELS code 3 credit unions increased 1.7 percent from the end of the second quarter, to 768 from 755. Assets for these credit unions increased 7.6 percent from the second quarter to $47.9 billion from $44.5 billion.“Unfortunately, the Share Insurance Fund report this quarter also shows another side of rising interest rates with an increase in the number of credit unions with a composite CAMELS code 3, 4, or 5 rating,” Chairman Harper said. “Additionally, several credit unions have experienced liquidity issues recently, including some with more than $1 billion in assets. And, with ongoing inflationary pressures and continued interest rate increases likely, the potential for headwinds slowing the economy and increasing stress on households and financial institutions continues to grow.“The NCUA Board will continue to monitor trends and developments in the economy, financial markets, and credit unions. If any issues arise, the Board will also be ready to take action to protect credit union members and the Share Insurance Fund.”At the end of the third quarter of 2022, there were four federally insured credit union failures that cost the Share Insurance Fund $7.0 million in losses.The third-quarter figures are preliminary and unaudited. Additional information on the performance of the Share Insurance Fund is available on NCUA.gov.Access Board Action Memorandums and NCUA rule changes at www.ncua.gov. The NCUA also live streams, archives, and posts videos of open Board meetings online.

Set up a call:https://calendly.com/cuexamsolutions/talk-to-mark-about-any-exam-topic?month=2024-10Check out our website:https://calendly.com/cuexamsolutions/talk-to-mark-about-any-exam-topic?month=2024-10Are you worried about an NCUA exam in process or looming on the horizon? Don't face it alone!We're ex-NCUA insiders with decades of experience, ready to guide you to success. Our team understands the intricacies of NCUA examinations from the inside out.Hire us and gain:• Peace of mind during your exam process• Insider knowledge of NCUA procedures and expectations• Strategies to address potential issues before they become problems• Continuous access to our extensive subject matter expertiseWith our access retainer, you'll have on-demand support from former NCUA experts. We're here to ensure your credit union passers its exam with flying colors in its next examination.Contact Credit Union Exam Solutions today to learn more about our services and how we can help your credit union succeed.