Jan. 4, 2013 – The NCUA Board’s Jan. 10 open meeting agenda includes final action on what is a “small” credit union for regulatory relief purposes, a briefing on an interagency rule affecting higher-priced mortgages, the agency’s low-income designation and more.
The meeting, set for 10 a.m. Eastern, will take place in the board room at the agency’s central office in Alexandria, Va. The agenda includes:
- Board briefing on an interagency final rule affecting “higher-priced” mortgage loans;
- NCUA’s 2013 annual performance plan;
- final rule and Interpretive Ruling and Policy Statement 13-1, Regulatory Relief for Small Credit Unions;
- final rule on the deadline for accepting NCUA’s offered designation of “low-income”;
- final rule making technical amendments regarding Treasury tax and loan depositaries and depositaries and financial agents of the government;
- final rule on the designation of “troubled condition.”
In comments filed last October, NAFCU urged that NCUA, CFPB and other agencies party to the higher-priced mortgage rule include additional exemptions for certain classes of loans. It also urged that regulators keep the definitions of higher-priced and higher-risk loans as similar as possible for the sake of regulatory consistency. The interagency rule was proposed by NCUA, CFPB, FDIC, the Federal Reserve Board, Federal Housing Finance Agency and Office of the Comptroller of the Currency.
NAFCU supports NCUA’s proposal to increase the maximum asset size of a credit union considered “small” and thus eligible for relief from certain rules. However, it would like the agency to set that top asset size at $175 million, not the proposed $30 million.