NCUA’s latest Letter to Federal Credit Unions announces that the meeting flexibility measures put in place this year due to the pandemic will remain in place through 2021. CUNA has pushed for the flexibility in several recent meetings with NCUA.
J. Mark McWatters resigned Friday from his position on the board of the National Credit Union Administration. McWatters has served on the NCUA board since his nomination by then-president Barack Obama in 2014.
The NCUA Board issued a proposal Thursday allowing credit unions to capitalize interest in connection with loan modifications. CUNA has strongly pushed the agency for this change in recent months, including in three letters to NCUA Chairman Rodney Hood.
NCUA’s proposed 2021–2022 budget is now available for review and comment. The draft 2021 operating budget is $315.6 million, 0.1% lower than the 2020 budget. Comments must be emailed to NCUA by Dec. 11.
Credit unions interested in offering payday alternative loans or other forms of short-term lending can get advice from an upcoming webinar hosted by NCUA Nov. 16 starting at 3 p.m. (ET). Registration is now open.