The National Credit Union Administration board will explore the possibility of changing the maximum interest rate that credit unions may charge, the agency said Tuesday in an updated regulatory agenda.
The number of federally insured credit unions decreased by 160 between March 2019 and March 2020, the National Credit Union Administration said Wednesday in its “Quarterly Credit Union Data Summary.”.
As the coronavirus crisis drags on, the National Credit Union Administration board announced at its Thursday meeting that it will delay its phased-in reopening of the agency and approved a plan to explore expansion of virtual examinations of credit unions.
The National Credit Union Administration should complete the process for reviewing bank purchases by credit unions no later than 60 days after an application is filed, several credit unions have told the agency.
Federal and state banking regulators, including the National Credit Union Administration, pledged Tuesday to consider the impact that the coronavirus pandemic has had on financial institutions, as they conduct examinations of banks and credit unions.
The National Credit Union Administration may begin a reopening transition plan that could include voluntary on-site credit union exams as early as July 6, NCUA Chairman Rodney Hood said Thursday.
Kyle Hauptman, President Trump’s choice to join the National Credit Union Administration board, hates Dodd-Frank.
He has made that clear repeatedly.
That could cause some friction between Hauptman and Democratic board member Todd Harper and his policy advisor, Catherine Galicia, both of whom worked on Dodd-Frank when Congress passed it.
President Trump on Monday announced his intention to nominate Kyle Hauptman to be a member of the National Credit Union Administration board.
If confirmed by the Senate, Hauptman would replace Republican Mark McWatters.
“We can do more.”
That was the message National Credit Union Administration board member Todd Harper delivered Thursday, as he outlined his preliminary plans to increase the importance of economic equality and justice in the credit union community.
The National Credit Union Administration will work with the federal Export-Import Bank to help link credit unions with exporters in need of credit, the two agencies announced Tuesday.