Three briefings make up the agenda for the July 24 open meeting of the National Credit Union Administration (NCUA) Board, which currently consists solely of its Republican chairman, Kyle Hauptman.
A board briefing on artificial intelligence, an agency ombudsman overview and update, and a briefing on the Central Liquidity Facility (CLF, a back-up source of liquidity for credit unions) make up the open meeting agenda, according to a Federal Register notice slated for Monday. The meeting is slated for 10 a.m. Eastern.
Hauptman, in a statement, said the agency is “working towards capturing information and new insights on the use of AI within the credit union space.” Noting the agency’s mission to protect the safety and soundness of the credit union system, Hauptman said “we are best equipped to do this when we understand how credit unions interact with new technology and products.”
The July 24 open NCUA Board meeting will be the second held since President Donald Trump (R) in April fired the board’s two Democratic members, Todd Harper (also a former board chairman) and Tanya Otsuka.
After the firings, the agency asserted the agency’s “long-held view that a single Board Member constitutes a quorum when there are no other Board Members.” However, the NCUA rules of board procedure state that two board members must be in agreement on any board action.
Harper and Otsuka are suing to get their jobs back.
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