A meeting of the National Credit Union Administration (NCUA) Board is set Thursday to address a board appeal and will be closed under “exemption (8),” according to the meeting notice.
Credit unions are permitted under NCUA rules to appeal material supervisory determinations made by NCUA staff to the agency’s internal Supervisory Review Committee and, barring satisfaction there, to the agency’s board. Exemption (8), one of a number of exemptions the agency might invoke to close a meeting from public view, is aimed at protecting against the disclosure of information related to examination, operating, or condition reports related to financial institution regulation or supervision.
According to the notice, Thursday’s meeting will be held at 10 a.m. ET and will be held by teleconference due to the pandemic.