Esteban Camargo

Grand Rapids

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Articles

Kyle Hauptman Becomes Newest NCUA Board Chairman

Jan 23, 2025 | cusomag.com | Esteban Camargo

The National Credit Union Administration announced on Wednesday that President Donald Trump designated Kyle Hauptman to serve as the Chairman of the NCUA Board. Hauptman was nominated to the board in June 2020 and designated Vice Chairman under Chairman Todd Harper in December 2020. He becomes the thirteenth Chairman of the NCUA. Speaking as Chairman, Hauptman said, “I am deeply honored that President Trump has asked me to serve as Chairman of NCUA.
NCUA Releases Report on 2023 Credit Union Diversity Self-Assessment

Jan 14, 2025 | cusomag.com | Esteban Camargo

Last week, the National Credit Union Administration released a report summarizing the results of the 2023 Credit Union Diversity Self-Assessment. The assessment was established in 2016 by the Office of Minority and Women Inclusion (OMWI) as a voluntary way for credit unions to review their diversity and inclusion efforts, in compliance with section 342 of the Dodd-Frank Wall Streat Reform and Consumer Protection Act.
NCUA Works with ALM First to Launch Investment Pilot Program for Complex Credit Unions

Dec 31, 2024 | cusomag.com | Esteban Camargo

The National Credit Union Administration has approved an investment pilot program which will permit up to 30 complex federal credit unions (over $500 million in assets) to invest in ways previously prohibited under part 703 of NCUA’s regulations. The NCUA worked with ALM First Financial Advisors, LLC. to develop the program. ALM First is a Securities and Exchange Commission (SEC) registered investment advisor.
NCUA Issues Interagency Warning on Elder Financial Exploitation

Dec 10, 2024 | cusomag.com | Esteban Camargo

The NCUA recently released a statement made in cooperation with five federal financial regulatory agencies, the Financial Crimes Enforcement Network (FinCEN), and state regulators to mitigate elder financial exploitation. Fraud involving elder citizens has become a major issue with potentially billions of dollars lost.
NCUA Approves Central Liquidity Facility Budget for 2025-2026

Nov 26, 2024 | cusomag.com | Esteban Camargo

We are nearing the end of the year and that means it’s NCUA budget season. Last week, NCUA held its eighth open meeting of the year and approved the 2025-2026 budget for the Central Liquidity Facility (CLF), which last year began budgeting independently of the NCUA. The budget sees an increase from the 2024 board approved budget of $2,199,065 to $2,307,863 (+4.9%) in 2025 and $2,448,263 (+6.1%) in 2026.
CFPB Slaps Navy Federal Credit Union with $95 Million "Junk Fees" Penalty

Nov 12, 2024 | cusomag.com | Esteban Camargo

On Thursday, November 7, the Consumer Protection Financial Bureau (CFPB) announced that it had taken action against $180 billion Navy Federal Credit Union for the illegal application of overdraft protection fees from 2017 to 2022. The order requires Navy Federal to refund more than $80 million to members and adds a $15 million civil penalty which will be paid to the CFPB’s victims relief fund.
Malvertising is the spooky threat NCUA wants you to know about

Oct 31, 2024 | cuinsight.com | Esteban Camargo

Cybersecurity month may be drawing to a close soon, but awareness and diligence of cyber threats is a year-long effort. In October 2024, National Credit Union Administration Chairman Todd Harper published a letter to credit union board of directors outlining their responsibility in overseeing the cybersecurity of their institutions.
Malvertising is the Spooky Threat NCUA Wants You to Know About

Oct 30, 2024 | cusomag.com | Esteban Camargo

Cybersecurity month may be drawing closed, but awareness and diligence of cyber threats is a year-long effort. In October 2024, National Credit Union Administration Chairman Todd Harper published a letter to credit union board of directors outlining their responsibility in overseeing the cybersecurity of their institutions.
NCUA board holds open meeting, receives briefings on cybersecurity and new charters

Oct 29, 2024 | cuinsight.com | Esteban Camargo

The National Credit Union Administration held its seventh open meeting of 2024 on October 24, during which they received briefs from three departments: the Office of Examination and Insurance, the Office of the Executive Director, and the Office of Credit Union Resources and Expansion. The former two provided a report on cybersecurity and hacking economics, as well as a program briefing from the Information Security Examination program.
NCUA Board Holds Open Meeting, Receives Briefings on Cybersecurity and New Charters

Oct 29, 2024 | cusomag.com | Esteban Camargo

The National Credit Union Administration held its seventh open meeting of 2024 on October 24, during which they received briefs from three departments: the Office of Examination and Insurance, the Office of the Executive Director, and the Office of Credit Union Resources and Expansion. Cyber incidents involving third parties a concernThe former two provided a report on cybersecurity and hacking economics, as well as a program briefing from the Information Security Examination program.