It’s a light agenda for the NCUA’s Feb. 23 board meeting, the meeting will consist of a quarterly report on the National Credit Union Share Insurance Fund, and a continuation of the federal credit union loan interest rate ceiling.
CUNA published a white paper Thursday examining 3 policy decisions the NCUA will need to make concerning the wind-down of the agency’s Corporate Resolution Program, and will analyze the issues over the coming months.
CUNA congratulated J. Mark McWatters for being named acting chairman of the NCUA board Thursday by President Donald Trump. McWatters has served as a board member since August 2014. Former Chairman Rick Metsger will remain on the board.
The U.S. District Court of the Eastern District of Virginia dismissed an Independent Community Bankers of America lawsuit against the agency and its member business lending rule Tuesday. CUNA filed an amicus brief in support of dismissal.
CUNA plans to work across the credit union industry to ensure the NCUA receives feedback on its alternative capital Advance Notice of Proposed Rulemaking put forth Thursday. The ANPR seeks information on a range of alternative capital topics.
An advanced notice of proposed rulemaking on alternative capital tops the agenda for Thursday’s NCUA meeting. The ANPR follows October’s board briefing on alternative, or supplemental, capital, and how credit unions could potentially raise it for risk-based capital purposes.
The NCUA will host a webinar on its upcoming (FOM) rule Feb. 1, 5 days before the rule becomes effective on Feb. 6. The NCUA finalized its FOM rule and proposed another containing several CUNA suggestions for regulatory relief.
The NCUA promised enhanced examination planning procedures and scheduling changes for 2017, and outlined those changes in a letter to credit union sent in the final days of 2016. The extended cycle applies CUs that meet certain requirements.
A question was recently posed to CUNA’s compliance staff about the Right to Financial Privacy Act. Specifically, what type of documentation is required from a federal government agency when it requests financial information on a member?