At the NCUA Board’s first meeting of a full, three-person board since April 2016, the NCUA Board issued an advance notice of proposed rulemaking (ANPR) on compensation in connection with loans to members. The ANPR seeks comments on ways to improve the agency’s regulations limiting credit union officials and employee compensation in connection with loans to members and lines of credit to members.
During his first remarks as chair, Rodney Hood said he intends to focus on several areas, including enhancing the credit union charter, enhancing cybersecurity efforts, and reducing regulatory burden. NCUA is particularly interested in obtaining commenter feedback on “how it can provide flexibility with respect to senior executive compensation plans that incorporate lending as part of a broad and balanced set of organizational goals and performance measures.”
Comments will be accepted on the ANPR for 60 days after it is published in the Federal Register, which is expected in the coming days.