NCUA Closed Agenda Targets Troubled Credit Unions
The NCUA is set to hold a closed meeting Oct. 23 involving a personnel change at a troubled credit union and an administrative enforcement action.
The agenda for the NCUA’s closed meeting, held after the public meeting, includes section 701.14 of the NCUA’s Rules and Regulations, which relates to changes to an “official or senior executive officer in credit unions that are newly chartered or are in troubled condition.”
This portion of the meeting is closed pursuant to Exemptions (6) and (8) of the Sunshine Act.
The agenda also includes an administrative enforcement action under Section 206 of the Federal Credit Union Act, which involves the “termination of insured credit union status; cease and desist orders; removal or suspension from office.” The matter is closed pursuant to Exemptions (3), (6) and (10).
The public meeting agenda includes a proposed interagency rule on loans in areas that have special flood hazards, which is associated with 760 of the NCUA’s Rules and Regulations.
The board will also consider a proposed rule involving corporate credit unions, which is related to part 704 of the NCUA’s Rules and Regulations.
The agency's will present the share insurance fund quarterly report to the board at the meeting, which begins at 10a.m. Oct. 23.