OTR, operating fee approach, CDFIs on NCUA radar today
ALEXANDRIA, Va. (1/21/16)--The National Credit Union Administration (NCUA) board will vote today on whether to publish the agency’s overhead transfer rate (OTR), operating fee schedule and strategic plan, opening them up to public comment.
Today’s board meeting is scheduled to begin at 10 a.m. (ET) and will be streamed live on the NCUA’s website.
The OTR covers the NCUA’s costs to examine and supervise the risk to the National Credit Union Share Insurance Fund, while the operating fee covers the portion of operational costs for noninsurance-related aspects of operating the agency.
The NCUA previously published materials related to the OTR in July.
The Credit Union National Association has repeatedly expressed concerns that the OTR is at an all-time high.
The NCUA’s strategic plan will cover the years from 2017 to 2021, and NCUA Chair Debbie Matz said in September the plan will “drive the agency’s budget process over several years.”
Also on the agenda is a final rule related to the reporting structure of the agency’s Office of Minority and Women Inclusion. The agency announced Wednesday that the closed portion of the meeting was rescheduled to 9 a.m. (ET) from the original time of 11:30 a.m. (ET).
Following the meeting, at 2 p.m. (ET) the NCUA will sign a memorandum of understanding with the U.S. Treasury, with the goal of doubling the number of certified Community Development Financial Institution credit unions in 2016.
News Now will be live-tweeting from the meeting at @NewsNowLiveWire.