CUNA
  • Advocacy
    • Priorities we’re fighting for
    • Actions you can take
  • News
  • Learn
  • Compliance
  • Shop
  • Topics
    • Community Service
    • Compliance
    • Credit Union Hero
    • Credit Union Rock Star
    • Credit Union System
    • Directors
    • Human Resources
    • Leadership
    • Lending
    • Marketing
    • Operations
    • Policy & Issues
    • Sales & Service
    • Technology
  • Credit Union Magazine
    • Buyers' Guide
    • COVID-19
    • Digital Edition
    • Credit Union Hero
    • Credit Union Rock Star
    • Subscribe
    • Advertise
    • Contact
  • COVID-19
  • Advertise
  • Awards
    • Nominate Credit Union Hero
    • Nominate Credit Union Rock Star
  • Podcasts
  • Videos
  • Contact
Learn More about Member Value

News

Member Benefits
Learn more
Learn more about the benefits of membership.
Home » NCUA proposed 2021 budget reflects changing priorities
Policy & Issues

NCUA proposed 2021 budget reflects changing priorities

December 13, 2020

CUNA submitted its comments on NCUA’s proposed 2021 budget Friday, following CUNA Chief Economist Mike Schenk’s presentation before NCUA at last week’s briefing.

NCUA’s proposed budget reflects a 0.1% decline from the previous year, and CUNA commends the agency due to proposed activities and expenditures generally aligning with previously announced and vetted strategic. CUNA also believes it also appropriately responds to changing supervisory priorities in light of the COVID-19 Crisis.

“We believe there is immense capacity for NCUA to reduce its footprint, right-size the organization and come out of the resulting transition as a nimble, stronger, more efficient and more effective regulator,” the letter adds.

Highlights include:

  • Concerns over any expansion of consumer protection examination activity, as CUNA believes examinations should stay close to NCUA’s mission to ensure the safety and soundness of the credit union system;
  • CUNA urges the agency to resist temptations to pursue legislation that transforms the National Credit Union Share Insurance Fund into a “bank-like entity,” as well as commit to reduce the Normal Operating Level to a level closer to its 1.30% historic norm; and
  • CUNA calls on NCUA to use the pandemic as a reference point for additional meaningful field of membership reform.

CUNA also commends the agency for continuing to provide comprehensive budget information and a rationalization of the budget and agency expenditures in advance, as well as holding an open briefing.

The board is scheduled to vote on the budget at its Dec. 18 meeting.

KEYWORDS ncua
Credit Union Magazine - Spring 2021

Spring 2021

Credit Union Magazine’s Spring 2021 edition features CUNA's 2021 advocacy agenda, strategic planning guidance, and labor market insights.
Digital Edition •  Subscribe

Trending

  • CFPB proposes foreclosure moratorium until 2022

  • Cheryl Deborde named Credit Union Hero of the Year

  • PCA flexibility coming soon from NCUA

Tweets by CUNA_News

Polls

How have vaccination efforts affected your remote work policy?

View Results
More

Champion of America’s Credit Unions

Credit Union National Association is the only national association that advocates on behalf of all of America’s credit unions. We work tirelessly to protect your best interests in Washington and all 50 states. We fuel your professional growth at every level and champion the credit union story at every turn.

More CUNA

  • About
  • Careers
  • Contact Us
  • Recommended Websites
  • Privacy Policy

Resources for

  • CUNA Board Members
  • Credit Union Advocates
  • Leagues
  • Press
  • Vendors