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The NCUA has reported that insured shares and deposits in federally insured credit unions grew, for the first time, to more than $1 trillion and membership reached 106.2 million in the third quarter of 2016. Total loans outstanding at federally insured credit unions reached $847.1 billion at the end of the third quarter of 2016, an increase of 10.1 percent from third quarter 2015. Total investments by federally insured credit unions stood at $266.3 billion at the end of the third quarter, down 1.4 percent from the third quarter of 2015. The delinquency rate at federally insured credit unions was 77 basis points in the third quarter, down 1 basis point from 2015.

In response to North Korea’s September 2016 nuclear test, ongoing prohibited development of weapons of mass destruction (WMD), and continued violations of United Nations Security Council resolutions (UNSCRs), the U.S. Department of the Treasury has announced that its Office of Foreign Assets Control (OFAC) has designated 16 entities and seven individuals for their ties to the Government of North Korea or its nuclear and weapons proliferation efforts and identified 16 aircraft blocked as property of a designated entity. The targets include individuals and companies from North Korea's transportation, mining, energy and financial services industries. As a result of this action, any property or interests in property of the designated persons in the possession or control of U.S. persons or within the United States must be blocked. Additionally, U.S. persons are generally prohibited from engaging in transactions involving the designated persons and listed aircraft.

For additional information on these actions, see our OFAC Update.

The OCC has issued its first quarter 2017 CRA evaluation schedule.

The FDIC has issued a list of 47 state nonmember banks recently evaluated for compliance with the Community Reinvestment Act (CRA). Six were rated outstanding, 40 satisfactory, and one needs to improve.

The CFPB has announced on the Bureau Blog the fall semiannual update of its rulemaking agenda. The items listed included:

• Know Before You Owe (TRID) mortgage disclosure rule (reviewing comments on proposed revisions)
• HMDA (working on proposed fine-tuning amendments to 2018 HMDA rule)
• Larger participants and non-depository lender registration (ongoing)
• Arbitration (reviewing comments on proposed rule)
• Payday, auto title, and similar lending products (reviewing comments on proposed rule)
• Debt collection (potential proposed rule for debt collectors soon; ongoing study on need for rule for first-party collectors
• Overdraft services (under research)
• Reporting under ECOA of info on credit applications from women-owned, minority-owned and small businesses (outreach and research)

The Federal Emergency Management Agency has published two final rules identifying communities that are scheduled for suspension from the National Flood Insurance Program.

• A rule at 81 FR 87467, with a suspension date of December 22, 2016, affects communities in Polk County, Florida; McKean County, Pennsylvania; Cheatham, Dickson and Wiliamson counties in Tennessee; Sedgwick and Summer counties in Kansas; and Carson City, Nevada.
• A rule at 81 FR 87470, with a suspension date of December 8, 2016, affects communities in Walton County, Georgia; Brown County, Indiana; Benton and Linn counties in Oregon; and Richland and Vernon counties in Wisconsin.

The Office of the Comptroller of the Currency has released a list of Community Reinvestment Act (CRA) performance evaluations that became public during November. The list contains only national banks, federal savings associations, and insured federal branches of foreign banks that have received ratings. The possible ratings are outstanding, satisfactory, needs to improve, and substantial noncompliance. Of the 30 evaluations listed, six are rated outstanding and 24 are rated satisfactory.

The FDIC has released the public list of institutions that it has scheduled for a Community Reinvestment Act (CRA) examination during the first quarter of 2017. This list is required by revised CRA regulations published in May 1995 that require each federal bank and thrift regulator to publish a quarterly CRA examination schedule at least 30 days before the beginning of each quarter.

The Financial Action Task Force (FATF) has published its December 2016 mutual evaluation report of United States anti-money laundering and counter-terrorist financing (AML/CFT) measures. The report noted the U.S. has a robust anti-money laundering and counter-terrorist financing regime through which it effectively investigates and prosecutes these crimes. However, the system has serious gaps in the country's legal framework that impede timely access to beneficial ownership information. The report also notes other significant gaps, including minimal coverage of investment advisers, lawyers, accountants, real estate agents, trust and company service providers (other than trust companies).

The Federal Reserve has issued an update reminding eligible borrowers whose loans were serviced by one of the Federal Reserve supervised servicers that reached an agreement to end the Independent Foreclosure Review in 2013 that they have until December 31, 2016, to cash or deposit their checks in order to be paid. To complete the payment distribution process under the Independent Foreclosure Review Payment Agreement, the Federal Reserve has instructed the paying agent, Rust Consulting, Inc. to void all outstanding checks after the December 31 deadline.