CUNA followed up last week’s NCUA budget briefing by submitting a letter to the agency as part of its commentary on the agency’s proposed 2018-2019 budget, which NCUA is expected to vote on at its November meeting.
The NCUA board unanimously finalized rules on appeals and the Supervisory Review Committee at its board meeting Thursday, and issued a request for information and a proposal on establishing stress testing tiers.
CUNA recognizes NCUA has made improvements to its budget process reflected in this year’s proposed budget, CUNA Vice President of Research and Policy Analysis Mike Schenk told the agency during its budget briefing Wednesday.
CUNA Vice President of Research and Policy Analysis Mike Schenk and Cooperative Credit Union Association President/CEO Paul Gentile, who chairs CUNA’s examination and supervision subcommittee, will be among the presenters at Wednesday’s NCUA budget briefing.
NCUA posted its proposed 2018-2019 budget Friday, and will accept comments and requests to present at the Oct. 18 budget briefing. CUNA is currently analyzing the materials, which include a proposed operating budget of $298.2 million for 2018.
Members of CUNA’s Consumer Protection Subcommittee discussed the need for regulatory relief and other topics with NCUA, the Consumer Financial Protection Bureau, legislators and CUNA staff during their fly-in meeting this week.
The NCUA’s plan to close the Temporary Corporate Credit Union Stabilization Fund, along with a proposed rule and the agency’s strategic plan, were published in the Federal Register Wednesday after the board approved them last week.
CUNA forwarded a letter Thursday to the NCUA commenting on the agency’s proposed emergency merger rule, and objects to any proposed changes that would result in rigid guidelines forcing credit union mergers.