The NCUA Board issued an advance ANPR Thursday and new Chairman Rodney Hood said he intends to focus on several areas as chairman, including enhancing the credit union charter, enhancing cybersecurity efforts and reducing regulatory burden.
Low-income credit unions interested in Community Development Revolving Loan Fund grants can submit applications to NCUA between June 2 and July 20. NCUA will administer approximately $2 million in CDRLF grants to the most qualified applicants.
NCUA's Thursday meeting will feature an ANPR on on compensation in connection with loans to members, the only item on the agenda. It will also be the first meeting with new Chairman Rodney Hood and new board member Todd Harper.
CUNA’s Small Credit Union Committee wrote to NCUA about merger trends, the CECL standard and other issues this week. The letters follow a meeting between the committee and NCUA's Larry Fazio that took place at CUNA GAC.
CUNA has released an updated version of its share insurance fund distribution calculator tool, designed to help credit unions estimate the amount of their distribution from the $160 million announced by NCUA earlier this month.
The NCUA board finalized a rule regarding loans to members and lines of credit to members at its Thursday meeting, a rule designed to reduce regulatory burden, improve clarity and make compliance easier.
The NCUA board will vote on a final rule regarding loans to members and hear a quarterly update on the National Credit Union Share Insurance Fund at its March 14 meeting. The meeting will be streamed live starting at 10 a.m. (ET).