The NCUA board approved the agency’s 2019 and 2020 operating budget at its Thursday meeting, in addition to issuing a proposed rule on fidelity bonds. CUNA presented at the agency’s budget briefing last month, and submitted formal written comments on the budget.
“We thank NCUA for its work on the budget, and for the steps taken to modernize the agency as it works to become a leader and innovator in the financial services industry,” said Mike Schenk, CUNA’s chief economist.
The board also approved a proposed rule to amend fidelity bond requirements for corporate and natural person credit unions.
According to NCUA staff, the proposal has four purposes:
The meeting also featured a quarterly update on the National Credit Union Share Insurance Fund.