The National Credit Union Administration board on Thursday approved a proposed rule that would require federal credit union boards of directors to establish succession plans to ensure that the institutions have a process for filling key positions.
The National Association of State Credit Union Supervisors is cautioning federally insured, state-chartered credit unions to check with state officials before they follow recent guidance from the National Credit Union Administration concerning the recording of meetings with examiners.
The National Credit Union Administration should tread lightly as agency officials decide how best to address the risks that climate change poses to the stability of the credit union system according to credit union trade groups.
The National Credit Union Administration board will consider a proposed rule governing succession planning at credit unions on Jan. 27.
Even as a key Republican questioned the legality of the appointment, the Senate Banking Committee on Wednesday approved the nomination of Todd Harper to serve a full term on the National Credit Union Administration board.
The committee voted 17-7 to allow Harper to continue on the board, although committee ranking Republican Sen. Pat Toomey of Pennsylvania said he believes the nomination was illegal. Toomey was joined by six Republican colleagues in voting against the nomination.
As a result of the continuing uncertainty associated with the COVID-19 pandemic, the National Credit Union Administration will continue to conduct examinations and supervision activities primarily offsite, NCUA Chairman Todd Harper wrote in a letter to credit unions Tuesday.
The Credit Union National Association and state credit union leagues are calling on the National Credit Union Administration to establish a Regulatory Reform Task Force to weed out outdated, unnecessary, and burdensome regulations.
Pomona Postal Federal Credit Union merged with the Credit Union of Southern California on Jan. 1, the National Credit Union Administration announced Monday.
The National Credit Union Administration liquidated Portsmouth Schools Federal Credit Union in Portsmouth, Virginia on December 30, 2021.
National Credit Union Administration Chairman Todd Harper is urging federally insured credit unions to submit the annual Credit Union Diversity Self-Assessment survey, reminding officials that the reports will not be used as part of an institution’s examination.