NCUA Board Approves Final Field of Membership Rule at July Board Meeting

The National Credit Union Administration board on Thursday approved a final Field of Membership rule that had been delayed as a result of a lawsuit filed by the American Bankers Association.

The board unanimously agreed to allow a credit union to file an application to designate a Combined Statistical Area, or a contiguous portion of it, as a well-defined local community. To qualify, that area would be required to have a population of under 2.5 million people.

Schied Named NCUA Chief Financial Officer

Eugene Schied has been named chief financial officer of the National Credit Union Administration. Schied succeeds Rendell Jones, who was named the agency’s executive director earlier this year. “Eugene has nearly 20 years of senior financial and budget experience in the federal government,” NCUA Chairman Rodney Hood said. “He brings a wealth of experience and leadership to the position.” Schied previously served as the NCUA’s acting CFO and as the deputy chief CFO. Before joining the NCUA in March 2017 Schied held executive positions at several federal agencies; those positions include serving as the assistant director of administration at the

NCUA Nominee Hauptman Emerges Unscathed From Confirmation Hearing

With two nominations to the Securities and Exchange Commission garnering the most attention, National Credit Union Administration board nominee Kyle Hauptman faced little questioning during his confirmation hearing Tuesday before the Senate Banking Committee.

The only pointed criticism came from committee ranking Democrat Sherrod Brown of Ohio, who questioned Hauptman’s qualifications and experience.