Ahead: Fed nominees to testify; NCUA op fee methodology on board agenda

Testimony from the president’s nominees for Federal Reserve Board terms and public discussion of the National Credit Union Administration’s operating fee schedule methodology are slated over the next two days.

On Wednesday, the Senate Banking Committee is set to begin a hearing at 10 a.m. Eastern to hear testimony from President Joe Biden’s (D) nominees to the Fed Board:

  • Fed Board Gov. Philip Jefferson, who is serving a term that continues through January 2036, to fill the vice chair seat held most recently by Lael Brainard (now director of the National Economic Council, or NEC);
  • Adriana Kugler, U.S. Executive Director at the World Bank Group, to fill an unexpired Fed Board term that continues through January 2036; and
  • Fed Board Gov. Lisa Cook, whose term expires next year, to a full 14-year term (which would expire in January 2038).

Thursday brings an open meeting of the National Credit Union Administration (NCUA) Board, which begins at 10 a.m. Eastern. The meeting agenda includes:

  • a request for comment on the methodology for the agency’s operating fee schedule;
  • a board briefing on “new charter modernization”; and
  • a proposed interpretative ruling and policy statement on the Minority Depository Institution Preservation Program.

The Senate Banking hearing and NCUA Board meeting can be attended in person or online.

June 21 Senate Banking Committee nomination hearing

June 22 NCUA Board open meeting agenda; view the board meeting livestream