NCUA Board to Meet; and New Director Coming to BCFP

Logo for the National Credit Union Administration

The National Credit Union Administration (NCUA) Board will meet on Thursday, Dec. 13 at 7 a.m. (Pacific).

The board’s agenda includes:

  • A final report on NCUA Regulatory Reform Task Force.
  • A board briefing on blockchain and distributed ledger technology.
  • A final rule on technical amendments to NCUA’s regulations.

The NCUA formed a Regulatory Reform Task Force in March 2017. In August 2017 the task force issued a report that outlined its numerous recommendations for the amendment or repeal of regulatory requirements that the task force believes are outdated, ineffective, or excessively burdensome. The task force also developed a four-year agenda for reviewing and revising the NCUA’s regulations.

The board will receive a final report from the task force and will consider a final rule that corrects minor errors and updates, and clarifies definitions and other outdated provisions in various NCUA regulations.

The California and Nevada Credit Union Leagues will monitor the board meeting and provide an update soon after. NCUA board meetings are broadcast via livestream video and can be accessed from NCUA’s homepage at www.ncua.gov. Open board meetings are also tweeted live; follow @TheNCUA on Twitter.

Kraninger Confirmed as BCFP Director

Last week the Senate confirmed the nomination of Kathleen Kraninger to be director of the Bureau of Consumer Financial Protection (BCFP). The nomination was confirmed by a strict party-line vote of 50 to 49.

The Senate's action on the nomination will be sent to the president. Following the president’s action, Kraninger will be sworn in and assume the duties of director of the BCFP for a five-year term.

“We look forward to working with the new director and with BCFP staff to reduce regulatory burden through focused and tailored regulations on credit unions,” said Diana Dykstra, president and CEO of the Leagues.

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