Published on: 18194404. To clarify and define the terms Call Report and Credit Union Profile report in Rule 69U-110.045, F.A.C., and to update requirements for the timing and electronic filing of such reports as required by the National Credit Union Administration (NCUA) under federal law. To conform Rule 69U-110.053, F.A.C., to the 2015 amendments to Section 655.047, F.S., regarding the filing and deadline requirements for state credit unions to submit semiannual assessment payments by mail and by electronic means.
Published on: 18057343. To conform the assessments rule to the 2015 amendments to Section 655.047, F.S., regarding the filing and deadline requirements for state credit unions to submit semiannual assessments by mail and by electronic means; to clarify and define the terms Call Report and Credit Union Profile report; and to update requirements for the timing and electronic filing of such reports as required by the National Credit Union Administration.
Published on: 3307426. Chapter 2005-181, Laws of Florida, revises provisions contained in Chapters 655 and 657, Florida Statutes, relating to state-chartered financial institutions in general and the regulation of state-chartered credit unions in particular. In light of this law, the Office of Financial Regulation is proposing the adoption of new rules, and amendments to, or the repeal of, certain existing administrative rules governing the regulation of state-chartered credit unions to reflect and implement the statutory changes.
Published on: 675622. Chapter 2005-181, Laws of Florida, revises provisions contained in Chapters 655 and 657, Florida Statutes, relating to state-chartered financial institutions in general and the regulation of state-chartered credit unions in particular. In summary, the law incorporates changes to provide consistency with the National Credit Union Administration guidelines and federal regulations; authorizes the Financial Services Commission to adopt rules to establish criteria under which the Office of Financial Regulation may place a credit union in involuntary liquidation; updates accounting requirements to conform with generally accepted accounting principles of the United States; revises procedures governing a merger of credit unions; removes specific powers of a credit union in favor of broader business powers; broadens the authority of the Office of Financial Regulation to issue an emergency order to require merger, conversion, or other appropriate action for a failing bank or trust company to apply to other financial institutions, including credit unions; and removes obsolete language relating to the Florida Credit Union Guaranty Corporation, which no longer exists. In light of this law, the Office of Financial Regulation is proposing the adoption of new rules, and amendments to, or the repeal of, certain existing administrative rules governing the regulation of state-chartered credit unions.