October 26, 2020

NCUA to hold emergency meeting on proposed interagency rule

NCUAThe NCUA Board is set to hold a special meeting this Wednesday to consider a proposed interagency rule on the role of supervisory guidance. During its October meeting, the board voted to remove a request for information on the agency's supervisory guidance and communication improvements from the agenda.

According to news reports, the meeting is being held for the NCUA to discuss and approve a proposed rule – informally issued last week by the federal financial regulators – clarifying that agency guidance "does not have the force of law."

The meeting, set to begin at 2 p.m. Eastern, will be livestreamed via the agency's website. The board will also hold a closed meeting to consider two personnel matters.

Additionally, the board announced that its Dec. 10 open and closed meetings have been rescheduled to Dec. 17.

NAFCU will monitor Wednesday's meeting and update credit unions. Stay tuned to NAFCU Today for the latest information.