The world often feels rigged. And this episode is a wake-up call to recognize the barriers that exist for those who don’t fit the traditional mold. In this episode, which is a kind of tribute to my dear departed Dad, I recount some powerful lessons from the man who was a brilliant psychiatrist and my biggest champion. He taught me that if something feels off about the environment you’re in, it probably is—and it’s absolutely hella-not your fault. We dare to break into the uncomfortable truth that many workplaces are designed for a very specific demographic, leaving neurodivergent individuals, particularly those on the autism spectrum, feeling excluded. I share three stories in which my Dad imparted to me more than my fair share of his wisdom, and I'm hoping you to can feel empowered. You'll learn that we can advocate for ourselves and others to create a more inclusive work culture. Newsletter Paste this into your browser if the newsletter link is broken - https://www.lbeehealth.com/ Join our Patreon - https://differentnotbrokenpodcast.com/patreon Mentioned in this episode: Sign Up For Our Newsletter Stay updated on all the things! Get added to our newsletter mailing list. Newsletter…
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Credit Union Regulatory Guidance Including: NCUA, CFPB, FDIC, OCC, FFIEC
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A tartalmat a Credit Union Exam Solutions by Mark Treichel and Credit Union Exam Solutions Inc. biztosítja. Az összes podcast-tartalmat, beleértve az epizódokat, grafikákat és podcast-leírásokat, közvetlenül a Credit Union Exam Solutions by Mark Treichel and Credit Union Exam Solutions Inc. vagy a podcast platform partnere tölti fel és biztosítja. Ha úgy gondolja, hogy valaki az Ön engedélye nélkül használja fel a szerzői joggal védett művét, kövesse az itt leírt folyamatot https://hu.player.fm/legal.
This podcast provides you the ability to listen to new regulatory guidance issued by the National Credit Union Administration, and occasionally the F D I C, the O C C, the F F I E C, or the C F P B. We will focus on new and material agency guidance, and historically important and still active guidance from past years that NCUA cites in examinations or conversations. This podcast is educational only and is not legal advice. We are sponsored by Credit Union Exam Solutions Incorporated. We also have another podcast called With Flying Colors where we provide tips for achieving success with the N C U A examination process and discuss hot topics that impact your credit union.
…
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96 epizódok
Megosztás
Mind megjelölése nem lejátszottként
Manage series 3543943
A tartalmat a Credit Union Exam Solutions by Mark Treichel and Credit Union Exam Solutions Inc. biztosítja. Az összes podcast-tartalmat, beleértve az epizódokat, grafikákat és podcast-leírásokat, közvetlenül a Credit Union Exam Solutions by Mark Treichel and Credit Union Exam Solutions Inc. vagy a podcast platform partnere tölti fel és biztosítja. Ha úgy gondolja, hogy valaki az Ön engedélye nélkül használja fel a szerzői joggal védett művét, kövesse az itt leírt folyamatot https://hu.player.fm/legal.
This podcast provides you the ability to listen to new regulatory guidance issued by the National Credit Union Administration, and occasionally the F D I C, the O C C, the F F I E C, or the C F P B. We will focus on new and material agency guidance, and historically important and still active guidance from past years that NCUA cites in examinations or conversations. This podcast is educational only and is not legal advice. We are sponsored by Credit Union Exam Solutions Incorporated. We also have another podcast called With Flying Colors where we provide tips for achieving success with the N C U A examination process and discuss hot topics that impact your credit union.
…
continue reading
96 epizódok
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Credit Union Regulatory Guidance Including: NCUA, CFPB, FDIC, OCC, FFIEC
www.marktreichel.com https://www.linkedin.com/in/mark-treichel/ Hello, this is Samantha Shares. This episode covers NCUA’s reopening the public comment period on two recently finalized rules that haven’t fully taken effect yet. This podcast is educational and is not legal advice. We are sponsored by Credit Union Exam Solutions Incorporated, whose team has over two hundred and Forty years of National Credit Union Administration experience. We assist our clients with N C U A so they save time and money. If you are worried about a recent, upcoming or in process N C U A examination, reach out to learn how they can assist at Mark Treichel DOT COM. Also check out our other podcast called With Flying Colors where we provide tips on how to achieve success with N C U A. Today, we’re diving into an important update from the National Credit Union Administration. This update comes straight from the April twenty-third Federal Register. If you’re a board member, executive, or compliance officer, you’ll want to pay close attention. On April twenty-third, the NCUA announced something a little unusual—they are reopening the public comment period on two recently finalized rules that haven’t fully taken effect yet. Here’s why this matters. Earlier this year, the White House issued what’s called a “Regulatory Freeze Pending Review.” In plain English, that means federal agencies were asked to hit pause and review any major new rules that hadn’t already kicked in. NCUA, just like other agencies, is now inviting the public—yes, that means you—to weigh in again on two big rules. The first is called Simplification of Share Insurance. This rule was finalized back in September twenty twenty-four and is scheduled to fully take effect December first, twenty twenty-six. The goal is to make NCUA’s share insurance rules simpler and clearer for both credit unions and your members. With this new comment window, you have another chance to raise questions, flag concerns, or support the parts of the rule you think are working. The second rule is about Succession Planning. This one was finalized in December twenty twenty-four and is set to take effect January first, twenty twenty-six. It’s designed to make sure credit unions have solid plans in place for leadership succession—a big deal, especially for smaller credit unions and those with retiring executives. This new comment period is your opportunity to share whether you think the rule strikes the right balance, or if it creates any challenges for your operations. So how can you submit your comments? You have until June twenty-third, twenty twenty-five. You can go online to regulations dot gov and look up the docket numbers for each rule, or send your comments to the NCUA Secretary in Alexandria, Virginia. If you’re old school, you can even hand deliver them. You might be thinking, didn’t we already comment on these rules? Yes, many did—but this is a second bite at the apple, thanks to the new administration’s regulatory review. If your credit union has operational concerns, needs more clarity, or has suggestions for how the rules are implemented, now is your chance to be heard. Here are your quick takeaways. NCUA is actively seeking comments on the share insurance simplification and succession planning rules, both of which are set to take effect in twenty twenty-six. The deadline for comments is June twenty-third, twenty twenty-five. Your feedback could help shape how these rules roll out, or even whether they proceed as planned. That’s it for today’s update. We’ll keep you posted on any new developments and what they mean for your credit union. If you have questions or want to share how your credit union is preparing for these changes, send us a note—we might feature your insights in a future episode. Thanks for tuning in Stay informed, stay compliant, and stay ahead. If your Credit union could use assistance with your exam, reach out to Mark Treichel on LinkedIn, or at mark Treichel dot com. This is Samantha Shares and we Thank you for listening. Are 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 expertise With our access retainer, you'll have on-demand support from former NCUA experts. We're here to ensure your credit union achieves 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.…
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Credit Union Regulatory Guidance Including: NCUA, CFPB, FDIC, OCC, FFIEC
www.marktreichel.com https://www.linkedin.com/in/mark-treichel/ NCUA Releases Staff Message on the Current NCUA Board Are 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 expertise With our access retainer, you'll have on-demand support from former NCUA experts. We're here to ensure your credit union achieves 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.…
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Credit Union Regulatory Guidance Including: NCUA, CFPB, FDIC, OCC, FFIEC
www.marktreichel.com https://www.linkedin.com/in/mark-treichel/ Understanding Conflicts of Interest in Asset Management: Show Notes In this episode, Samantha Shares explores the critical topic of conflicts of interest in asset management based on the OCC Comptroller's Handbook. While originally created for banks, these principle-based guidelines provide an excellent framework for credit unions managing conflicts in their asset management activities. The episode covers what constitutes a conflict of interest, common scenarios where conflicts arise, the four main risk categories (compliance, operational, reputation, and strategic), and key components of effective risk management. Samantha details specific conflict situations including self-deposits, proprietary investment products, brokerage allocation, and soft dollar arrangements, while outlining four essential principles for handling conflicts: proper authorization, full disclosure, fairness and reasonableness, and maintaining the client's best interest. The episode emphasizes that managing conflicts effectively isn't just about regulatory compliance—it's fundamental to maintaining client trust and protecting your institution's reputation. Are 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 expertise With our access retainer, you'll have on-demand support from former NCUA experts. We're here to ensure your credit union achieves 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.…
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Credit Union Regulatory Guidance Including: NCUA, CFPB, FDIC, OCC, FFIEC
www.marktreichel.com https://www.linkedin.com/in/mark-treichel/ Show Notes: Model Risk Management (OCC Comptroller's Handbook) In this episode, Samantha Shares discusses the OCC's "Model Risk Management" handbook (Version 1.0, August 2021). This comprehensive handbook provides guidance on how financial institutions should manage risks associated with their use of models. Key topics covered: Definition of models and model risk Types of risk associated with model use Governance framework requirements Three lines of defense in model risk management Model development, testing and implementation Validation process and requirements Third-party model risk management Documentation and inventory requirements This handbook is essential knowledge for anyone dealing with model risk management in financial institutions, particularly those subject to OCC supervision. Are 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 expertise With our access retainer, you'll have on-demand support from former NCUA experts. We're here to ensure your credit union achieves 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.…
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Credit Union Regulatory Guidance Including: NCUA, CFPB, FDIC, OCC, FFIEC
www.marktreichel.com https://www.linkedin.com/in/mark-treichel/ Reach out to learn how we assist our clients. Are 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 expertise With our access retainer, you'll have on-demand support from former NCUA experts. We're here to ensure your credit union achieves 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.…
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Credit Union Regulatory Guidance Including: NCUA, CFPB, FDIC, OCC, FFIEC
www.marktreichel.com https://www.linkedin.com/in/mark-treichel/ NCUA wants you to build a good contingency funding plan. We discuss their guidance on this important topic. Are 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 expertise With our access retainer, you'll have on-demand support from former NCUA experts. We're here to ensure your credit union achieves 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.…
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Credit Union Regulatory Guidance Including: NCUA, CFPB, FDIC, OCC, FFIEC
1 NCUA Board Member Tanya Otsuka Statement on the Decision to Remove Total Overdraft and Non-sufficient Fund Fee Data 5:49
www.marktreichel.com https://www.linkedin.com/in/mark-treichel/ Hello, this is Samantha Shares. This episode covers NCUA Board Member Tanya Otsuka Statement on the Decision to Remove Total Overdraft and Non-sufficient Fund Fee Data The following is an audio version of that STATEMENT. This podcast is educational and is not legal advice. We are sponsored by Credit Union Exam Solutions Incorporated, whose team has over two hundred and Forty years of National Credit Union Administration experience. We assist our clients with N C U A so they save time and money. If you are worried about a recent, upcoming or in process N C U A examination, reach out to learn how they can assist at Mark Treichel DOT COM. Also check out our other podcast called With Flying Colors where we provide tips on how to achieve success with N C U A. And now the STATEMENT N C U A Board Member Tanya Otsuka Statement on the Decision to Remove Total Overdraft and Non-sufficient Fund Fee Data N C U A Board Member Tanya F. Otsuka issued the following statement about the agency’s decision to remove total overdraft and non-sufficient fund (NSF) fee data for federally insured credit unions with more than $1 billion in assets from Call Reports beginning with the first quarter of 2025. Member empowerment is a cornerstone of the cooperative credit movement. For credit unions, which are built on the philosophy of “people helping people,” increasing transparency is a simple way to demonstrate the credit union difference, enable consumers to make informed financial decisions, and help maintain trust and confidence in our cooperative system of credit. In that spirit, the N C U A began collecting and publishing quarterly Call Report data on revenues credit unions with over $1 billion in assets made from overdraft and non-sufficient funds (NSF) fees last year. Unfortunately, the fourth quarter 2024 data published today will be the last to include information on overdraft and NSF fee income. On March 3, 2025, Chairman Hauptman unilaterally announced changes to the way the N C U A collects overdraft and NSF fee information. 1 Specifically, starting on March 31, 2025, the agency would “no longer publish overdraft and non-sufficient fund fee income for individual credit unions” and this information would ostensibly be collected during supervisory examinations. This is a step in the wrong direction. There is no data to suggest credit unions limited the services they provide low-income or underserved consumers last year simply to avoid having to report fee income on the N C U A’s Call Reports. Credit unions with higher overdraft and NSF fees also do not appear to offer lower fees to members for other services, nor better interest rates. 2 Overdraft and NSF fees put a strain on members who are likely already struggling and may further trap them in a cycle of financial hardship that can be difficult to escape. That is why providing the public information about fees through the N C U A’s Call Reports enabled consumers across the country to more readily compare between credit unions and choose the institution that best fit their needs. 3 Credit unions are already required to disclose to their members the fees that they charge. Instead of providing overdraft and fee income in a transparent, consistent, and standardized way, collecting overdraft and NSF fee data through the exam process will erode the quality of the data and hamstring our ability to monitor trends. The decision to collect this data through the supervisory process rather than through the quarterly Call Report must not be used as an excuse to withhold it from credit union members or the broader public. Transparency is vital for promoting fair competition within the financial system. Limiting access to individual credit union data does not help consumers, encourage the chartering of de novo institutions, or reduce regulatory burden on small cooperatives, which were exempt from the requirement to report these data. It just enables larger institutions that rely heavily on fee income to operate in the shadows, resulting in less competition and less choice for consumers, and places institutions that stay true to the principles of the credit union movement at a disadvantage. At the end of the day, members, as owners of their credit union, have a right to know how their institution operates, just like any investor would if they purchased stock in a publicly traded company. We shouldn’t keep credit union members in the dark. I urge the N C U A Chair to prioritize transparency and to continue the practice of quarterly reporting and public disclosure of overdraft and NSF fee income for individual credit unions. I look forward to continuing to work with the entire N C U A Board to protect consumers and the credit union system. This concludes the STATEMENT If your Credit union could use assistance with your exam, reach out to Mark Treichel on LinkedIn, or at mark Treichel dot com. This is Samantha Shares and we Thank you for listening. Are 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 expertise With our access retainer, you'll have on-demand support from former NCUA experts. We're here to ensure your credit union achieves 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.…
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Credit Union Regulatory Guidance Including: NCUA, CFPB, FDIC, OCC, FFIEC
1 NCUA Board Member Todd Harper Statement on the Decision to Curtail the Collection of Overdraft and Non-sufficient Fund Fees 6:19
www.marktreichel.com https://www.linkedin.com/in/mark-treichel/ Hello, this is Samantha Shares. This episode covers NCUA Board Member Todd Harper Statement on the Decision to Curtail the Collection of Overdraft and Non-sufficient Fund Fees The following is an audio version of that Statement This podcast is educational and is not legal advice. We are sponsored by Credit Union Exam Solutions Incorporated, whose team has over two hundred and Forty years of National Credit Union Administration experience. We assist our clients with N C U A so they save time and money. If you are worried about a recent, upcoming or in process N C U A examination, reach out to learn how they can assist at Mark Treichel DOT COM. Also check out our other podcast called With Flying Colors where we provide tips on how to achieve success with N C U A. And now the Statement. NCUA Board Member Todd Harper issued the following statement about the agency’s decision to curtail the collection of total overdraft and non-sufficient fund (NSF) fees for federally insured credit unions with more than $1 billion in assets beginning with Call Reports for the first quarter of 2025. For markets to work efficiently, transparency is needed. That’s a bedrock principle of economics. And, it’s one of the many reasons why credit union member-owners and the public should have clear visibility into the income a credit union generates from overdraft and NSF fees charged to its member-owners. To advance credit union efforts to benchmark fees against other financial institutions, improve marketplace competition, and increase consumer understanding of the fees they’re charged within the credit union system, the NCUA required federally insured credit unions with more than $1 billion in assets to disclose, separately, income from overdraft and NSF fees beginning with the 2024 first quarter Call Report. With today’s release of the 2024 fourth quarter Call Report results, however, that desirable transparency experiment will regrettably end. During the last year, we’ve found that reporting institutions have collected $3.8 billion in such fees. Some charged no fees at all. For most reporting credit unions, overdraft and NSF fees accounted for between 2 and 5 percent of revenue. Some outliers charged fees amounting to as much as 18 percent of income. For those billion-dollar-plus credit unions with higher overdraft and NSF fees, we also found that they did not use those fees to subsidize better interest rates or lower other fees. Federally insured banks with more than $1 billion in assets began reporting these numbers in 2015. Since then, consumers have benefitted as banks have lowered their reliance on such fees. In fact, the Consumer Financial Protection Bureau found that roughly two out of three banks with $10 billion or more in assets have eliminated NSF fees, saving consumers $2 billion annually. Yet, among credit unions with greater than $10 billion in assets, four out of five continue to charge NSF fees. That overreliance on such fees is one of the many reasons why the NCUA began collecting and publicly reporting this data on Call Reports. But, by unilateral action by the Chairman, credit union member-owners and the public will now no longer have access to this important information. If credit unions are to live up to their statutory purpose of supporting the financial needs of ‘people of modest means and the credit union movement’s oft-touted ‘people-helping-people’ philosophy, then credit union member-owners should have access to this basic market information, so they can make better decisions about how and where to deposit and access their hard-earned money. While the NCUA will no longer publish overdraft and NSF fee income for individual credit unions on a real-time quarterly basis, the agency will instead collect the data during supervisory examinations. This approach, however, will likely shield credit union members from accessing the information through the Freedom of Information Act. Ultimately, this non-disclosure will result in financial exclusion, especially when one considers that NSF is a fee for not paying for an item. In my view, the NCUA should restore fee transparency for overdraft and NSF fees on Call Reports. If the Chairman is unwilling to reverse course, then the overdraft and NSF fee data collected in the exam process at individual credit unions shouldn’t be shielded from public release through the Freedom of Information Act. If such data was once already public information, why now sweep it under the rug? The Chairman also noted that the appropriateness of overdrafts and NSF fees charged is a matter between a credit union and its member-owners. If those member-owners ultimately determine how their credit union is run, then credit union management should make their overdraft and NSF income upon member-owner request. As a steward of the credit union system and someone whose father and grandfather started credit unions, I strongly believe in the concept of a credit union movement to lift up everyone. But, this unnecessary decision moves that credit union movement closer to an industry, one that’s worse than banks when it comes to fee disclosures. Profiting from consumers’ problems will come back and bite you. America’s credit union member-owners deserve better. This concludes the statement. If your Credit union could use assistance with your exam, reach out to Mark Treichel on LinkedIn, or at mark Treichel dot com. This is Samantha Shares and we Thank you for listening Are 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 expertise With our access retainer, you'll have on-demand support from former NCUA experts. We're here to ensure your credit union achieves 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.…
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Credit Union Regulatory Guidance Including: NCUA, CFPB, FDIC, OCC, FFIEC
www.marktreichel.com https://www.linkedin.com/in/mark-treichel/ NCUA Board Member Tanya F. Otsuka Remarks at the 2025 Governmental Affairs Conference As Prepared for Delivery on March 4, 2025 Thank you to Jim, Carrie, and everyone at America’s Credit Unions for the invitation. Special thanks to the convention center staff and everyone behind the scenes who helped put this event together and are making sure it runs smoothly. And of course, thank you all in the audience for being here. It is an honor to serve on the Board of the NCUA and to see the great work credit unions are doing for their members every day. The NCUA’s mission of protecting the cooperative credit system is imperative for the millions of families that rely on credit unions for a checking account, buy a car or a home, or save for retirement. Congress has entrusted the NCUA with the responsibility to protect credit union members and the credit union system, and our ability to do so depends on a strong, independent agency, with dedicated staff who understand the unique role that credit unions play in our economy. Our independence is critical to maintaining confidence and stability in the credit union system. If you put your money in a credit union with the words “insured by the NCUA” emblazoned on the door, you can trust that you won’t lose your life savings if that credit union fails. Share insurance creates confidence in the credit union system, which not only protects Americans’ hard-earned money, but also helps credit unions attract new members and continue to grow. "Congress has entrusted the NCUA with the responsibility to protect credit union members and the credit union system, and our ability to do so depends on a strong, independent agency, with dedicated staff who understand the unique role that credit unions play in our economy. Our independence is critical to maintaining confidence and stability in the credit union system." As the primary federal regulator of credit unions, the NCUA understands the unique characteristics of credit unions and their members. Our independence from politics and distinction from other financial regulators allows us to focus on what matters to the credit union system. It also allows us to maintain long-term stability, mitigate risks and act quickly during a crisis, and prudently manage the share insurance fund. We must not lose sight of why these guardrails are in place. The NCUA, as we know it today, is the product of one too many dark periods in our nation’s history. During the Great Depression, the stock market crashed, our economy collapsed, and thousands of banks failed, wiping out many Americans’ entire life savings. In response, Congress created independent financial agencies and consumer protections – like deposit insurance – to promote stability and provide a safety net for American families. Congress also encouraged the creation of federal credit unions under the Federal Credit Union Act of 1934, allowing more people of modest means to access affordable credit, secure their savings, and ultimately begin to recover from financial hardship. The credit union movement continued to grow, and in 1970, Congress established the NCUA as an independent agency to charter and supervise federal credit unions and manage the Share Insurance Fund, which extended the deposit insurance safety net to credit union members. Fast-forward to the 2008 Financial Crisis, when years of deregulation and lax oversight paved the way for risky and unethical financial practices on Wall Street to wreak havoc on our economy. As financial institutions failed, markets crashed, and businesses shuttered, everyday Americans were left holding the bag. Millions of families lost their homes. While credit unions fared better than banks overall, credit unions were not spared. Between 2008 and 2012, the NCUA oversaw over 130 involuntary liquidations and mergers. To create a more resilient financial system, Congress passed the Dodd-Frank Act, which put in place higher standards for the largest banks and financial companies, established stronger consumer protections, and increased the maximum share insurance for credit union members. "That is why credit unions must continue to show the American people what the credit union difference means and live up to the mantra of 'people helping people.' . . . Too much is at stake to be seen as no different than a bank or a tech company or any other financial institution. The credit union difference is the ultimate competitive advantage." It is no coincidence that credit unions were not the catalyst for our past financial crises. That is a reflection of the credit union ethos. From its inception, the credit union movement has sought to advance access for all and prioritize the economic interests of its members. Credit unions are an integral part of our financial system, serving over 142 million consumers across the United States. Credit unions are often a lifeline for the communities they support. And for many Americans, they are the only source of access to affordable and equitable financial products and services. That is why credit unions must continue to show the American people what the credit union difference means and live up to the mantra of “people helping people.” As not-for-profit, mission-driven institutions, credit unions must embrace the importance of strong consumer protection, lower cost financial products, and service over profit. Too much is at stake to be seen as no different than a bank or a tech company or any other financial institution. The credit union difference is the ultimate competitive advantage. Over the past year, I have focused on small credit unions and promoting and preserving minority depository institutions, and we have made sure that credit unions who have expanded to underserved areas are meeting the needs of those communities. There is much more we would like to achieve, including dedicating more time and staff to support smaller credit unions and looking at proposing a new rule to reimburse credit union board members for childcare and dependent expenses. To accomplish our shared goals, we need an independent regulator designed to regulate credit unions. That is the NCUA. The NCUA is critical to protecting the millions of members who rely on us to safeguard their hard-earned money. By focusing on our mission, we can ensure credit unions are well positioned for the future and able to meet their members’ financial needs in good times and bad. Ultimately, our society benefits from a healthy credit union system that provides access to affordable financial services to those of modest means. Protecting that system is central to why we are all here today. I hope we never forget that. Thank you. Are 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 expertise With our access retainer, you'll have on-demand support from former NCUA experts. We're here to ensure your credit union achieves 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.…
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Credit Union Regulatory Guidance Including: NCUA, CFPB, FDIC, OCC, FFIEC
www.marktreichel.com https://www.linkedin.com/in/mark-treichel/ This episode covers NCUA's Guidance to Credit Unions on Concentration Risk. Are 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 expertise With our access retainer, you'll have on-demand support from former NCUA experts. We're here to ensure your credit union achieves 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.…
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Credit Union Regulatory Guidance Including: NCUA, CFPB, FDIC, OCC, FFIEC
www.marktreichel.com https://www.linkedin.com/in/mark-treichel/ Hello, this is Samantha Shares. This episode covers NCUA Chairman Kyle S. Hauptman's opening remarks from the February 27, 2025 Board Meeting. The following is an audio version of Chairman Hauptman's first board meeting remarks as NCUA Chairman. This podcast is educational and is not legal advice. We are sponsored by Credit Union Exam Solutions Incorporated, whose team has over two hundred and forty years of National Credit Union Administration experience. We assist our clients with NCUA so they save time and money. If you are worried about a recent, upcoming or in process NCUA examination, reach out to learn how they can assist at MarkTreichel.com. Also check out our other podcast called With Flying Colors where we provide tips on how to achieve success with NCUA. And now the Chairman's opening remarks. NCUA Chairman Kyle S. Hauptman Board Meeting Opening Remarks As Prepared for Delivery on February 27, 2025 This is my first board meeting as Chairman. It's truly an honor to serve as the thirteenth Chairman of the NCUA and advance priorities that promote growth, opportunity, and innovation within the credit union system. I want to thank the President for his trust in me, and I also want to thank Todd Harper for his service through some challenging times for NCUA and the credit union system. Over the past few weeks there has been various announcements and Executive Orders affecting the federal workforce. Some of these directives may bring significant changes to the NCUA. All of us at this table understand that change, and the uncertainty that accompanies it, can be challenging for a number of parties: the credit union system, other stakeholders, and most definitely NCUA employees. All of us at the NCUA, including the Board, are diligently assessing how these announcements may affect the NCUA, our operations, regulatory structures, and our workforce. "All of us at this table understand that change, and the uncertainty that accompanies it, can be challenging for a number of parties: the credit union system, other stakeholders, and most definitely NCUA employees." To the NCUA employees who may be watching: The work each of you does, day in and day out, keeps our credit union system thriving and credit union members safe. There's also loads of misinformation and rumor out there. I've spent some time recently reading forums on Reddit that touch on NCUA or federal employees. And there's some crazy stuff out there. People moving money out of banks and credit unions to buy Treasury bonds because they think deposit insurance is going away. And that's not one of the crazier ones. Let's continue to stay focused on our mission, and we --- the Board --- will continue to support your work as we navigate any changes together. Thank you for your patience and your dedication to the NCUA. One thing that struck me last week. Our executive director mentioned how much NCUA staff liked seeing an email about this year's fee schedule for credit unions. I was curious why a fairly routine, mundane topic would generate a positive reaction. But it was precisely because it was mundane that people reacted that way. A sign that the big picture hasn't changed, NCUA business continues. I want to ask of my 1200 colleagues at NCUA to reach out to me anytime, by phone, Teams, email. While we on the Board don't have any more info on White House directives than anyone else, I'm happy to talk about problems and possible solutions. I'll tell you what I know and don't know. And to the people who we work for, the 142 million Americans who pay into the Share Insurance Fund: Know that NCUA's mission is unchanged. There are 4500 credit unions to examine, and most importantly, a $22 billion Share Insurance Fund that is the true north for each of us on the Board. Our deposit insurance is unchanged, the exams are continuing just the rest of our work here. Be assured we haven't taken our eye off the ball. "There are 4500 credit unions to examine, and most importantly, a $22 billion Share Insurance Fund that is the true north for each of us on the Board." We're aware that uncertainty surrounding your employer and your job isn't new for credit union members. Many credit unions were founded by employee groups of companies that no longer exist. We're aware that most Americans, the people who pay my salary, live a daily reality of uncertainty to their work situation. Just four years ago, 21 million Americans lost their jobs in one month. We get how the real world works. So just maybe grant us a bit of grace as we adjust and work through changes. And again, your money is safe in the NCUA insurance fund, and it's safe at NCUA-insured credit unions. Our NCUA staff are professionals, and they, and credit union members, should know the management around here has worked around the clock to ensure we still meet the needs of America's credit union members and my outstanding NCUA coworkers. And finally, I know that as Chairman, I can steer some priorities of the agency, but any concrete actions will require Board approval and that requires some measure of compromise on the part of all parties. Discussions among my colleagues have always been in good faith and in the spirit of cooperation during my tenure on the Board. There has been plenty of give-and-take in negotiations. None of us gets everything he or she wants , but all of us get some of what we wanted. I look forward to continuing that collaboration with my Board colleagues now that I am Chairman. That concludes my opening remarks. This concludes Chairman Hauptman's opening remarks from his first board meeting as NCUA Chairman. If your credit union could use assistance with your exam during these times of change at the NCUA, or if you have concerns about how recent executive orders might impact your credit union's examination process, reach out to Mark Treichel on LinkedIn, or at MarkTreichel.com. This is Samantha Shares and we thank you for listening. Are 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 expertise With our access retainer, you'll have on-demand support from former NCUA experts. We're here to ensure your credit union achieves 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.…
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Credit Union Regulatory Guidance Including: NCUA, CFPB, FDIC, OCC, FFIEC
www.marktreichel.com https://www.linkedin.com/in/mark-treichel/ By the authority vested in me as President by the Constitution and the laws of the United States of America, it is hereby ordered: Section 1. Policy and Purpose. The Constitution vests all executive power in the President and charges him with faithfully executing the laws. Since it would be impossible for the President to single-handedly perform all the executive business of the Federal Government, the Constitution also provides for subordinate officers to assist the President in his executive duties. In the exercise of their often-considerable authority, these executive branch officials remain subject to the President’s ongoing supervision and control. The President in turn is regularly elected by and accountable to the American people. This is one of the structural safeguards, along with the separation of powers between the executive and legislative branches, regular elections for the Congress, and an independent judiciary whose judges are appointed by the President by and with the advice and consent of the Senate, by which the Framers created a Government accountable to the American people. However, previous administrations have allowed so-called “independent regulatory agencies” to operate with minimal Presidential supervision. These regulatory agencies currently exercise substantial executive authority without sufficient accountability to the President, and through him, to the American people. Moreover, these regulatory agencies have been permitted to promulgate significant regulations without review by the President. These practices undermine such regulatory agencies’ accountability to the American people and prevent a unified and coherent execution of Federal law. For the Federal Government to be truly accountable to the American people, officials who wield vast executive power must be supervised and controlled by the people’s elected President. Therefore, in order to improve the administration of the executive branch and to increase regulatory officials’ accountability to the American people, it shall be the policy of the executive branch to ensure Presidential supervision and control of the entire executive branch. Moreover, all executive departments and agencies, including so-called independent agencies, shall submit for review all proposed and final significant regulatory actions to the Office of Information and Regulatory Affairs (OIRA) within the Executive Office of the President before publication in the Federal Register . Sec. 2. Definitions. For the purposes of this order: (a) The term “employees” shall have the meaning given that term in section 2105 of title 5, United States Code. (b) The term “independent regulatory agency” shall have the meaning given that term in section 3502(5) of title 44, United States Code. This order shall not apply to the Board of Governors of the Federal Reserve System or to the Federal Open Market Committee in its conduct of monetary policy. This order shall apply to the Board of Governors of the Federal Reserve System only in connection with its conduct and authorities directly related to its supervision and regulation of financial institutions. (c) The term “independent regulatory agency chairman” shall mean, with regard to a multi-member independent regulatory agency, the chairman of such agency, and shall mean, with regard to a single-headed independent regulatory agency, such agency’s chairman, director, or other presiding officer. (d) The term “head” of an independent regulatory agency shall mean those appointed to supervise independent regulatory agencies and in whom the agencies’ authorities are generally vested, encompassing the chairman, director, or other presiding officer, and, as applicable, other members, commissioners, or similar such officials with responsibility for supervising such agencies. Sec. 3. OIRA Review of Agency Regulations. (a) Section 3(b) of Executive Order 12866 of September 30, 1993 (“Regulatory Planning and Review”), as amended, is hereby amended to read as follows: “(b) “Agency,” unless otherwise indicated, means any authority of the United States that is an “agency” under 44 U.S.C. 3502(1), and shall also include the Federal Election Commission. This order shall not apply to the Board of Governors of the Federal Reserve System or to the Federal Open Market Committee in its conduct of monetary policy. This order shall apply to the Board of Governors of the Federal Reserve System only in connection with its conduct and authorities directly related to its supervision and regulation of financial institutions.”. (b) The Director of the Office of Management and Budget (OMB) shall provide guidance on implementation of this order to the heads of executive departments and agencies newly submitting regulatory actions under section 3(b) of Executive Order 12866. Agency submissions by independent regulatory agencies under such section shall commence within the earlier of 60 days from the date of this order, or completion of such implementation guidance. Sec. 4. Performance Standards and Management Objectives. The Director of OMB shall establish performance standards and management objectives for independent agency heads, as appropriate and consistent with applicable law, and report periodically to the President on their performance and efficiency in attaining such standards and objectives. Sec. 5. Apportionments for Independent Regulatory Agencies. The Director of OMB shall, on an ongoing basis: (a) review independent regulatory agencies’ obligations for consistency with the President’s policies and priorities; and (b) consult with independent regulatory agency chairmen and adjust such agencies’ apportionments by activity, function, project, or object, as necessary and appropriate, to advance the President’s policies and priorities. Such adjustments to apportionments may prohibit independent regulatory agencies from expending appropriations on particular activities, functions, projects, or objects, so long as such restrictions are consistent with law. Sec. 6. Additional Consultation with the Executive Office of the President. (a) Subject to subsection (b), independent regulatory agency chairmen shall regularly consult with and coordinate policies and priorities with the directors of OMB, the White House Domestic Policy Council, and the White House National Economic Council. (b) The heads of independent regulatory agencies shall establish a position of White House Liaison in their respective agencies. Such position shall be in grade 15 of the General Schedule and shall be placed in Schedule C of the excepted service. (c) Independent regulatory agency chairmen shall submit agency strategic plans developed pursuant to the Government Performance and Results Act of 1993 to the Director of OMB for clearance prior to finalization. Sec. 7. Rules of Conduct Guiding Federal Employees’ Interpretation of the Law. The President and the Atto...…
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Credit Union Regulatory Guidance Including: NCUA, CFPB, FDIC, OCC, FFIEC
www.marktreichel.com https://www.linkedin.com/in/mark-treichel/ This episode covers NCUA's Guidance to Examiners on how they should evaluate credit union earnings. Are 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 expertise With our access retainer, you'll have on-demand support from former NCUA experts. We're here to ensure your credit union achieves 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.…
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Credit Union Regulatory Guidance Including: NCUA, CFPB, FDIC, OCC, FFIEC
www.marktreichel.com https://www.linkedin.com/in/mark-treichel/ NCUA's Supervisory Letter on Enterprise Risk Management. Audiobook style. Are 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 expertise With our access retainer, you'll have on-demand support from former NCUA experts. We're here to ensure your credit union achieves 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.…
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Credit Union Regulatory Guidance Including: NCUA, CFPB, FDIC, OCC, FFIEC
www.marktreichel.com https://www.linkedin.com/in/mark-treichel/ ## Episode Overview This episode covers the OCC's Fall 2024 Operational Risk report, examining key areas of focus for financial institutions including cybersecurity, operational resilience, innovation, and fraud risk management. ## Key Topics Covered ### Cybersecurity - Elevated operational risks due to evolving cyber threats and AI technology - Importance of third-party risk management in the expanding cyber threat landscape - Critical security measures including MFA, system hardening, and patch management - New post-quantum computing encryption standards from NIST ### Operational Resilience - Focus on mitigating disruption events and cyber incidents - Case study from mid-2024 involving global disruptions from flawed software updates - Importance of testing and validating resilience plans ### Innovation and New Services - Banks' adoption of new technologies and fintech partnerships - Cautious approach to AI and machine learning implementation - Considerations for digital asset custody and cryptocurrency services - Challenges of maintaining legacy systems while pursuing digitization ### Fraud Risk Management - Evolution of fraud prevention strategies - Importance of customer identification and verification - Implementation of transaction verification and authentication controls - Role of technology in flagging suspicious activity ### Third-Party Risk Management - Continuous lifecycle approach to third-party relationships - Risk management processes scaled to bank size and complexity - Importance of ongoing monitoring as relationships evolve ## Resources Mentioned - Credit Union Exam Solutions Incorporated - Mark Treichel's Website: marktreichel.com - "With Flying Colors" Podcast ## Contact Information - LinkedIn: Mark Treichel - Website: marktreichel.com ## Disclaimer This podcast is educational and does not constitute legal advice. All opinions expressed are for informational purposes only. Are 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 expertise With our access retainer, you'll have on-demand support from former NCUA experts. We're here to ensure your credit union achieves 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.…
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