NCUA Meets On NCUSIF
In an unusual session scheduled for last Friday, the NCUA Board was slated to hear a report on the financial health of the NCUSIF.
Since the meeting was held after Credit Union Times went to press, the results will be available at www.cutimes.com.
The insurance fund has been hurt in recent months by the increased rate of liquidations and assisted mergers. During the height of the recession, then-NCUA Chairman Michael Fryzel began the practice of monthly reports on the NCUSIF.
The board was also scheduled to vote on a measure to withdraw the rules issued by the agency and other financial services regulators last year aimed at regulating what they constitute as unfair or deceptive acts and practices.
The proposed regulations have been superseded by the CARD Act that Congress passed last year.