ALEXANDRIA, Va.–The video recording of the Oct. 27, 2016, open meeting of the National Credit Union Administration board and the agency’s budget briefing are now available on the agency’s website.
At the October meeting, the board unanimously approved five items:
- A final rule modernizing existing field-of-membership definitions for federal credit unions to improve consumer access to affordable credit.
- A proposed rule to provide further field-of-membership community charter options for federal credit unions.
- A final rule renaming NCUA’s consumer office as the Office of Consumer Financial Protection and Access to clarify its function and role in promoting consumer access to affordable financial services.
- A final rule adjusting civil monetary penalties for inflation, as required by Congress.
- An interagency proposed rule to implement the private flood insurance requirements for loans in special flood hazard areas contained in a 2012 statute.
At the open Board meeting, the Office of Examination and Insurance also conducted a briefing on issues relating to credit unions using supplemental capital for risk-based capital calculations.
At the agency’s budget briefing, NCUA’s executive director and chief financial officer presented a detailed proposal for the agency’s 2017–2018 budget, and the board heard comments from credit union industry stakeholders. The video of the budget briefing may be viewed on the agency’s budget resource center web page.