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Letter to NCUA: More Comments on Proposed Corporate Regulations

Submitted by evan59 on February 26, 2010 |

Mary Rupp
Secretary of the Board

National Credit Union Administration
1775 Duke Street
Alexandria, Virginia 22314-3428

Dear Ms. Rupp, Read More

Letter to NCUA: Comments on Proposed Corporate Regulations Regarding Credit

Submitted by evan59 on February 26, 2010 |

Mary Rupp
Secretary of the Board

National Credit Union Administration
1775 Duke Street
Alexandria, Virginia 22314-3428

Dear Ms. Rupp,Read More

Why NCUA’s Silencing of WesCorp was a Terrible Mistake and How to Correct it

Submitted by cfilson on February 3, 2010 |

WesCorp staff, like all corporates, has been devoting much time and resources to analyzing the proposed 704 corporate rule. Their 25-page analysis was published on December 22, followed by an email letter to WesCorp members on why they “must demand changes to Rule 704.” One town hall meeting had been held and more were scheduled.Read More

The Proposed Corporate Rule

Submitted by ekashner on December 18, 2009 |

The November 19 NCUA board meeting considered several proposals, most significantly the highly anticipated release of the corporate regulatory proposal.  Weighing in at 253 pages, the release of the proposal marks the beginning of the final 90-day comment period.

The full proposal is current available on Credit Unions Rising (the .pdf is only available on NCUA’s site for 30 days, so we are hosting the full document so you will have continued access to it).

The MessageRead More

Press Statement on NCUA Conservatorship Action

Submitted by cfilson on December 4, 2009 |

Chip Filson read the following release and answered questions, along with Jay Johnson, at a press conference in Washington DC on Tuesday morning at 11 AM Eastern. Click here to download the exhibits Chip and Jay are referring to in this analysis.Read More

Video: Reorientation Toward Long-Term Governance

Submitted by mhand on November 2, 2009 |


A NCUA Town Hall attendee asks, “Does the proposed regulation address the possibility that U.S. Central will offer services directly to natural person credit unions?” Watch the short video for Bob Fenner’s response.Read More

Video: OTTI vs Losses at WesCorp

Submitted by mhand on October 30, 2009 |


A brief video clip from the WesCorp financial performance webcast on October 29, 2009. The topic is OTTI and losses. The question is:

To date you have actual losses of $27 Million in the securities portfolio, but you’ve written off over $6 Billion dollars in OTTI. This means that you’re expecting to eventually have 100% of OTTI become actual loss. Is this correct?  And, what is the timeframe for this to happen?Read More

Video: Timeframe for Recapitalizing WesCorp

Submitted by mhand on October 30, 2009 |


In case you missed the WesCorp financial performance webcast
on October 29, 2009, here’s a brief clip about the timeframe for
recapitalizing WesCorp.  The question is, “When are we as WesCorp
members going to be required to recapitalize WesCorp?”Read More

Video: Gigi Hyland on the Future of Corporates

Submitted by mhand on October 23, 2009 |


Watch Gigi Hyland of the NCUA comment on the future of the corporate credit union system from the NCUA Town Hall meeting near Washington, DC. She speaks about the “mutuality” and “connectivity” of the credit union cooperative system and how that relates to the upcoming corporate rule changes and the NCUSIF.Read More

Video: Bob Fenner Discusses New Corporate Rules at the NCUA Virtual Town Hall

Submitted by ekashner on October 23, 2009 |


Bob Fenner, General Counsel for the NCUA, discusses the proposed new regulations of corporate credit unions during the Virtual Town Hall webcast:Read More