The NCUA board of directors held its monthly board meeting Thursday, approving two items — a request for information on strategies for using digital technology to support the agency’s examination and supervision program and a final rule that makes technical amendments and corrections to the agency’s rules and regulations. The final rule is effective Jan. 1, 2022.
The Office of Credit Union Resources and Expansion briefed the board on the financial performance of minority credit unions and the agency’s efforts to preserve and promote the formation of minority depository institutions in 2019. More information about NCUA’s efforts to preserve and promote the formation of minority depository institutions has been previously reported in the New York Minute.
The board also received a briefing from NGN Division staff and the president of the Asset Management and Assistance Center on the financial performance of the NCUA Guaranteed Notes and the asset management estates that comprise the agency’s Corporate System Resolution Program.
Finally, due to recent COVID-19 spikes in certain states, Chairman Rodney Hood said that the agency would not begin phased-in reopening plans for NCUA offices on July 6, as previously planned.