The National Credit Union Administration (NCUA) Board will meet on Thursday, July 20 at 7 a.m. (Pacific). The board’s agenda includes:
In September 2022, the NCUA issued a proposal rule to amend the standard federal credit union bylaws to adopt a policy by which a federal credit union member may be expelled for cause by a vote of two-thirds of a quorum of the board of directors. The proposed rule would also make conforming changes to Article II of the federal credit union bylaws regarding members in good standing.
The California and Nevada Credit Union Leagues applauded the NCUA board’s efforts to make it easier for federal credit unions to expel problematic members, such as those that engage in violent, abusive, or illegal behavior. However, while the Leagues generally support the objectives of the proposed rule, there were some concerns. You can view the Leagues’ comment letter here.
The 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.