NCUA board of directors to consider proposed succession planning rule

The NCUA has released its agenda for the agency’s upcoming board of directors meeting on Thursday, Jan. 27 at 10 a.m. During the meeting, the agency will consider a proposed rule regarding succession planning at credit unions.

Details about the proposal are not included in next week’s agenda, however Washington Credit Union Daily reported that Todd Harper, NCUA chairman, said at an African American Credit Union Coalition town hall in November that he and his fellow board members were working on the rule.

“At that time, Harper said that one of the reasons why many credit unions have merged is the lack of succession planning. He added that one in five credit unions lack CEO succession plans,” Washington Credit Union Daily reported. “He added, ‘If we want to ensure small credit unions can thrive in the marketplace and in their communities, then we need to address the lack of succession planning within the industry.’”

The board of directors will also consider:

  • Board Briefing, Final Rule, Part 747, Statutory Inflation of Civil Monetary Penalties;
  • Board Briefing, 2022 Supervisory Priorities; and
  • Board Briefing, Central Liquidity Facility, Expiration of CARES and Consolidated Appropriations Acts Impact.

The meeting will be streamed live on the NCUA website, and results will be reported in The New York Minute.

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