Interest capitalization proposal on NCUA’s Nov. 19 agenda
The NCUA will vote on a proposed rule involving capitalization of interest at its Nov. 19 board meeting. The meeting will also feature a 2020 budget update and reprogramming.
CUNA has called on NCUA, in several letters to the agency and most recently this week in letters to Congress, to permit credit unions to capitalize interest on consumer mortgage loans in connection with loan modifications made during the pandemic.
The complete agenda is:
- Board briefing, share insurance fund quarterly report;
- Board briefing, state of credit union diversity and the 2019 Credit Union Diversity Self-Assessment;
- Board briefing, 2020 budget update and reprogramming; and
- Proposed pule, Part 741, Appendix B, Capitalization of interest.
The meeting will be conducted via live audio stream starting at 10 a.m. (ET) Nov. 19.