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 briefing on call report modernization.
Credit unions can make member business loans without requiring a personal guarantee in certain circumstances as of Friday. The change is the first part of the NCUA’s recently finalized member business lending rule.
With the NCUA’s announcement that it will take a thoughtful look at the examination process, CUNA hopes that this will eventually lead to an extended examination cycle, which would give much needed regulatory relief to credit unions.
The agenda for the NCUA’s May board meeting is short and sweet: a board briefing on call report modernization and a quarterly update on the Temporary Corporate Credit Union Stabilization Fund. The meeting will take place May 19.
CUNA is seeking comments on the NCUA’s incentive-based compensation proposal by June 8, with comments due to the NCUA by July 22. CUNA is concerned the rule gives NCUA too much authority over how credit unions compensate employees.
"We look forward to working with him going forward, particularly on getting the field-of-membership modernizations across the finish line," CUNA President/CEO Jim Nussle said Monday after learning NCUA Vice Chair Rick Metsger was named chair by President Barack Obama.
Federal Financial Institutions Examination Council agencies, including the NCUA, issued a joint proposed rule Friday updating the Uniform Consumer Compliance Rating System that has been in place since 1980.
CUNA, representing both federal and state credit unions, called for a "fair distribution" of supervision charges in its Tuesday comment letter to the NCUA on the overhead transfer rate and operating fee methodology.
A proposal that would offer additional regulatory relief under the National Credit Union Administration’s fixed-assets regulations was approved Thursday by the NCUA board. Specifically, the proposal eliminates a requirement that a federal credit union must plan for, and eventually achieve, full occupation of acquired premises.
CUNA’s inaugural Fair Lending Workshop took place last week in Denver, leading to valuable discussions on compliance with the Equal Credit Opportunity Act, the Fair Housing Act, the Home Mortgage Disclosure Act and more.