Credit union trade groups should be pleased with the defense authorization bill passed by the House Tuesday—it maintains the free rent benefit that credit unions receive on military installations and it includes anti-money laundering provisions they’ve been pushing.
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
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.
Citing the coronavirus crisis, National Credit Union Administration Chairman Rodney Hood said Wednesday that the agency will delay implementation of its new user portal and examination tool until the second half of 2021.
The National Credit Union Administration has exhausted all available funds for coronavirus crisis urgent needs grants and no new applications will be accepted, agency officials announced Wednesday.
The Senate Banking Committee on July 21 will hold a confirmation hearing for Kyle Hauptman, President Trump’s choice to replace J. Mark McWatters on the National Credit Union Administration board.
Even before the National Credit Union Administration decides whether to issue a final rule dealing with subordinated debt, it appears extremely likely that the issue will end up in federal court.
The House Financial Services Appropriations Subcommittee Wednesday approved an FY21 spending measure that calls for $273.5 million for the Community Development Financial Institutions program—less than what many credit unions wanted.
It seems that a lot of people are unhappy with the revised payday lending rule the Consumer Financial Protection Board issued Tuesday.
Credit union trade groups said the rule should have done more to exempt credit unions.
Consumer groups, on the other hand, said the rule eliminates virtually all consumer protections.
In light of last week’s U.S. Supreme Court decision, the National Credit Union Administration said Tuesday it will reinstate the rural districts for 18 credit unions that had been removed as federal courts evaluated the agency’s Field of Membership rule.