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National Credit Union Administration (NCUA)
Federal Credit Union Operating Fee Schedule for 2025
The NCUA Board approved the agency’s 2025 operating and capital budgets. The federal credit union operating fees will decrease by an average of approximately 1.2 percent in 2025.
Additionally, the operating fee exemption threshold was increased from $2 million to $2.08 million.
Exam Scheduling Policy Changes
During the December 2024 meeting, the NCUA Board approved changes to the agency’s examination scheduling policy for federally insured credit unions.
The adopted changes outlined in the letter to credit unions became effective on January 1, 2025. The changes allow the NCUA to:
The agency will endeavor to operate within the new examination scheduling timeframes in table 1 of the letter to credit unions. However, some credit unions may be examined earlier or later than the new policy’s timeframes until the agency’s examination program can fully adjust to the new policy.
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Consumer Financial Protection Bureau (CFPB)
404: Page Not Found
The CFPB’s main website has been displaying “404: Page not found” since Monday evening with an image showing a plug pulled out of the socket. Other pages and resources can still be accessed on the CFPB’s website. In addition, the Washington, D.C. offices have been locked and CFPB employees have been told "not to perform any work tasks this week,” according to an internal email.
With the regulatory supervision of credit unions and banks effectively stopped by the CFPB, a lot of uncertainty surrounds existing rules that have been issued by the CFPB that are already in place. Credit unions rely on these rules of the road when it comes to compliance and will need to monitor the ever-changing environment day by day.
Representative Williams Introduced H.R. 976 to Repeal the Small Business Loan Data Collection Rule
Representative Roger Williams introduced a bill to repeal the small business loan date collection requirements established under the Dodd-Frank Act.
The rule would require credit unions to start collecting data on applications and loans to small businesses, including which of those are made to women-, minority-, or LGTBQ+ owned businesses. Collection and reporting of the data is expected to begin for Tier 1 institutions in July 2025, followed by Tier 2 institutions in Jan. 2026, and finally Tier 3 institutions in Oct. 2026.
President Trump Nominates Former FDIC Board Member Jonathan McKernan to Head CFPB
On Feb. 11, 2025, President Trump nominated Jonathan McKernan to be the new Director of the CFPB. If confirmed, McKernan would replace Acting Director Russell Vought of the OMB.
McKernan’s background includes roles as Senior Counsel at the Federal Housing Finance Agency, senior policy advisor at the Treasury Department, and aide to former Senator Bob Corker (R-TN) and former Senate Banking Committee ranking member Senator Pat Toomey (R-PA). His tenure at the FDIC was marked by his strong opposition to Basel III endgame capital rules and his co-leadership of a special committee investigating workplace misconduct at the agency and pushing for reforms.
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