Mountain West News
OFAC Updates SDN/Blocked Persons Lists |
The Treasury Department's Office of Foreign Assets Control (``OFAC'') published on OFAC's list of Specially Designated Nationals and Blocked Persons (``SDN List'') the names of five entities, whose property and interests in property are blocked pursuant to Executive Order 13382 of June 28, 2005, ``Blocking Property of Weapons of Mass destruction Proliferators and Their Supporters.'' The designations by the Director of OFAC, pursuant to Executive Order 13382, were effective on July 18, 2012.  Read more.
Mid-Size CU Financial Stress Prompted Proposed 'Troubled Condition' Rule |

The NCUA has seen such an increase in credit unions with assets between $250 million and $500 million showing “some degree of financial stress”, it has lowered the threshold for joint exams from $500 million to $250 million.  As a result, the time NCUA examiners spend participating in joint exams has nearly doubled to 120,000 hours per year.  Read More

2012 TCCUSF Assessment Is 9.5 BP |
Credit unions will be charged a 2012 Temporary Corporate Credit Union Stabilization Fund assessment of 9.5 basis points of their member shares as of June 30, the National Credit Union Administration announced at Tuesday's July open board meeting. Read More
Credit Reporting Agencies to Come Under CFPB Scrutiny |
The Consumer Financial Protection Bureau this fall will begin supervision and examination of consumer credit reporting agencies with more than $7 million in annual receipts, the agency announced on Monday.  Read More
CFTC Exempts Most CUs From Derivatives Rules |
The Commodity Futures Trading Commission on Tuesday approved a final rule to exempt, as end users, credit unions with under $10 billion in assets from the terms of pending derivatives regulations, and introduced a proposal that would also exempt certain larger credit unions from those same rules. Read more.
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