NCUA August meeting available on video

The video recording of the Aug. 2 open meeting of the National Credit Union Administration Board is now available on the agency’s website. Archived videos of past Board meetings may be viewed here, and each video remains on the site for one year. At the August open meeting, the Board unanimously approved five items: A proposed […]

The video recording of the Aug. 2 open meeting of the National Credit Union Administration Board is now available on the agency’s website.

Archived videos of past Board meetings may be viewed here, and each video remains on the site for one year.

At the August open meeting, the Board unanimously approved five items:

  • A proposed supplemental rule amending the agency’s prompt corrective action regulations to delay the effective date of the risk-based capital rule and raise the asset threshold defining a complex credit union.
  • A $675,000 operating fund budget transfer to pay for cybersecurity improvements and employee relocation costs associated with the agency’s reorganization.
  • Continuation of the current 18 percent annual interest rate limit for loans—with the exception of loans originated under the payday alternative loan program—through March 10, 2020.
  • A final rule creating new suspension and debarment procedures to better protect the federal government’s interest in only doing business with presently responsible contractors.
  • A proposed rule to add specificity and clarity to current regulations covering loans and lines of credit granted to members and to provide credit unions with regulatory relief.

The Chief Financial Officer briefed the Board on the agency’s revised 2018 budget estimates, which currently project a reduction in the agency’s operating fund budget of almost $8.5 million.

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The League of Southeastern Credit Unions & Affiliates represents 342 credit unions in Alabama, Florida and Georgia, with a combined total of $118.63 billion in assets and more than 10.1 million members. LSCU & Affiliates provides legislative and regulatory advocacy; education and training; cooperative initiatives (including financial education outreach); public messaging; information services; and business solutions.

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