Credit union regulator’s board to consider supervisory, personnel actions Thursday

A closed meeting slated Thursday by the board of the federal credit union regulatory agency will include consideration of one supervisory action and two personnel actions, all of which are closed to the public under exemptions asserted under the Government in the Sunshine Act.

The closed meeting, slated for approximately 11:45 a.m. ET Thursday, will follow the open board meeting that begins at 10 a.m.

As reported here previously, the National Credit Union Administration (NCUA) Board is slated during its open meeting to consider the release for comment of a proposal allowing some federally insured credit unions (FICUs) to count subordinated debt as capital for risk-based purposes. In addition, the shows the board will:

  • consider a proposed rule on credit union combination transactions (under part 708a, subpart D, of NCUA regulations, which governs the conversion of an FICU into a mutual savings bank and the merger of an FICU into a bank);
  • review and set the federal credit union (FCU) loan interest rate ceiling;
  • discuss the agency’s 2020 performance plan; and
  • hear a briefing on an inflation adjustment for the agency’s civil money penalties (which for 2020 are increased based on a multiplier of 1.01764 from current levels; NCUA administers 16 CMPs under its regulations).

RR: Regulator to consider proposal allowing some credit unions to issue subordinated debt to raise capital (Jan. 16, 2020)