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NCUA Board to Consider Strategic Plan July 21.

Byline: David Baumann

The NCUA board will consider its 2017-2020 strategic plan and receive a mid-session update on its 2016 budget when it meets on July 21.

The agency made a draft of its strategic plan public earlier this year and invited public comment.

Many of those comments centered on providing greater regulatory relief to credit unions.

For instance, CUNA said the NCUA should have a stated goal of reducing the amount of time credit unions dedicate to the supervision process and should make a public commitment to extending the exam cycle -- two initiatives that Chairman Rick Metsger said the agency is undertaking.

While NAFCU also cited regulatory relief as an agency goal, the association also called for a budget reduction or stabilization since the NCUA budget has increased nine years in a row.

NAFCU also said the agency should not pursue a goal of supervising third-party vendors, saying the cost would outweigh the benefits of such power.

Following a briefing on the agency budget, the board will meet in a closed session to discuss merger-related and supervisory issues.

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Publication:Credit Union Times
Date:Jul 14, 2016
Words:179
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