The NCUA board will vote on a final field-of-membership (FOM) rule at its July 30 meeting, and will also issue proposals regarding the transition to the current expected credit loss (CECL) methodology, fees paid by federal credit unions, according to the agenda released Thursday. The board will also issue a request for comment on overhead transfer rate and operating fee methodologies.
CUNA fully supports NCUA’s FOM proposed rule, issued in October 2019 to re-adopt several provisions in the rule vacated by a U.S. District Court decision in March 2018. The court’s decision was overturned in August 2019, and the U.S. Supreme Court ruled it will not hear an appeal in June, allowing the provisions to stand if enacted.
The complete agenda is:
The meeting is scheduled to begin at 10 a.m. (ET) Thursday, July 30, and will only be available via live audio webcast on NCUA.gov.