The NCUA will pursue statutory changes to its authority as part of the agency's three-year strategic plan, which was released Wednesday for public comment.
According to the Strategic Plan 2014 – 2017, the NCUA will ask Congress to grant it the authority to regulate, examine, and take enforcement actions against vendors and CUSOs. The new authority would provide the NCUA parity with other federal financial regulatory agencies, the plan said.
A second legislative priority outlined in the plan is to re-establish the NCUA's emergency borrowing authority of $30 billion, which sunset on Dec. 31, 2010, and revise the Federal Credit Union Act to modernize the Central Liquidity Facility. The NCUA will also seek to obtain more flexibility in setting the normal operating level of the NCUSIF, as well as more flexibility in building retained earnings.
Continue Reading for Free
Register and gain access to:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
