The NCUA board will initiate a series of briefings on emerging issues prior to taking action on them, Chairman Rick Metsger said May 18.
The briefings will begin Thursday and will cover agency plans for modernizing the call report and profile system, and the system for reporting and storing credit unions' information.
“Due to federal sunshine laws, and the fact that NCUA has never had more than three board members, we cannot deliberate on policy issues, except at open meetings,” Metsger said in a statement. “What we're doing is giving board members an opportunity to talk directly to one another, exchange thoughts and ideas. It also provides the broader credit union community with insight into our thought process. Since no action is being taken, stakeholders will also have the opportunity to consider our discussion and provide early input before any rulemaking begins.”
The NCUA board is operating with two members since Chairman Debbie Matz departed at the end of April. In addition, board member J. Mark McWatters has been nominated for a seat on the Export-Import Bank board. However, he has not yet been confirmed and Banking Committee Chairman Richard Shelby (R-Ala) has indicated that he will not move the nomination. Ranking Member Sherrod Brown, a Democrat from Ohio, met with McWatters on Tuesday and renewed his call for his confirmation.
Metsger said if the initial series of board briefings is valuable, he will expand the practice. He said that when board meeting agendas are light enough, he will take the opportunity to include such briefings.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
