Thursday’s NCUA meeting will be the agency’s first with Rick Metsger serving as chair, and it will also feature the first of what Metsger said will be an occasional part of the meeting, a board briefing on call report modernization. The meeting is scheduled to being at 10 a.m. (ET), and live video will be available.
Metsger announced Wednesday that the board will, from time to time, hold board briefings as a way to allow board members to engage in a discussion publicly before the rulemaking process begins. Under the Administrative Procedures Act, the board is prohibited from discussing agency business or action items outside of a publicly noticed meeting.
CUNA is a strong proponent of increased transparency at the NCUA, and the ability for the board to publicly discuss issues as they are evolving will allow stakeholders to consider the discussions before the rulemaking process starts.
CUNA believes this will also provide additional visibility into the workings of the NCUA.
Thursday’s briefing will cover the NCUA’s plan to modernize the call report, as well as the system for reporting and storing credit unions’ information.
Going forward, Metsger said he would like to expand thebriefing practice should it prove effective.
“When a board agenda is light enough that it gives us the luxury of time for thoughtful analysis and discussion while providing greater visibility to the regulated community on what we’re contemplating, I want to take advantage of that opportunity,” he said.
The meeting will also feature a quarterly update on the Temporary Corporate Credit Union Stabilization Fund.