The NCUA has announced a closed board meeting on Friday at 1:30 p.m. at its headquarters in Alexandria, Va.
The stated purpose of the meeting is for “consideration of supervisory activities.” The NCUA has closed the meeting “pursuant to Exemptions (5), (7), (8) and (9)(ii)” of the Sunshine Act.
Exemption 5 involves “accusing any person of a crime, or formally censuring any person.”
Exemption 7 includes disclosing the “identity of a confidential source and, in the case of a record compiled by a criminal law enforcement authority in the course of a criminal investigation, or by an agency conducting a lawful national security intelligence investigation, confidential information furnished only by the confidential source.”
An agency can also decide to close a meeting under exemption 8 if it would “disclose information contained in or related to examination, operating, or condition reports prepared by, on behalf of, or for the use of an agency responsible for the regulation or supervision of financial institutions.”
Under exemption (9)(ii), a shut door meeting can be conducted if “the premature disclosure” of information would “significantly endanger the stability of any financial institution.”