On May 25, 2022, the US National Credit Union Administration ("NCUA") issued an industry letter authorizing federally insured credit unions to use distributed ledger technologies ("DLT Letter").
The National Credit Union Administration adopted a rule that allows credit union service organizations to offer a wider range of loans over the objections of agency Chairman Todd Harper, who said it risks deposit insurance losses.
Billions in funds earmarked for credit unions under the Treasury’s Emergency Capital Investment Program and other federal programs couldn’t be used to meet risk-based capital requirements without the proposed change.
NCUA tries to meet credit unions halfway on capital rules americanbanker.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from americanbanker.com Daily Mail and Mail on Sunday newspapers.
NCUA board members call for reforming de novo process americanbanker.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from americanbanker.com Daily Mail and Mail on Sunday newspapers.