January NCUA Board Agenda Includes Two Anticipated Final Rules
The Jan. 10 NCUA Board meeting will include a final rule on a proposal that would allow the federal regulator to declare a state-chartered credit union "troubled," a privilege that is currently only available to state regulators.
The proposed rule, introduced in July, was in response to the disagreement in CAMEL ratings between state regulators and the NCUA. Such discrepancies happen 2% to 4% of the time, NCUA Staff Attorney Steve Widerman told the board last summer.
The NCUA Board will also issue a final rule on the updated definition of “small credit union.” The proposed rule issued in September calls for an increase in the maximum asset threshold from $10 million to $30 million; trade associations have countered that $50 million or higher is a more reasonable number.
Other agenda items include the NCUA’s 2013 annual performance plan, final rules on the acceptance deadline for this summer’s low-income designation offer and a technical amendment addressing treasury tax and loan depositories, and a briefing on an interagency final rule on mortgage loans that trigger HOEPA disclosures.