NCUA

Current National Credit Union Administration (NCUA) Chair Todd Harper has been confirmed by the U.S. Senate to serve a full term in the position. Harper had previously been appointed by former President Donald Trump to fill a mid-term vacancy.

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In a guidance letter to regulated entities, the National Credit Union Administration has provided information and recommendations on the use of distributed ledger technology, more commonly referred to as blockchain.

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The National Credit Union Administration (NCUA), Office of Minority and Women Inclusion (OMWI) has delivered its annual report to Congress on the diversity and inclusion efforts and initiatives by NCUA through 2021.

The primary focus of OMWI has been to provide and promote actionable steps that credit unions may take to create a more inclusive environment for members and employees.

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In a letter from the Democrats of the Senate Committee on Banking, Housing, and Urban Affairs, Sen. Sherrod Brown (D-Ohio) and his colleagues called for regulators to find ways to encourage lending to “Main Street.”

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The Government Accountability Office (GAO) has published a report on the progress federal agencies and regulators have made to increase access to banking services to those that are historically underserved.

The report endeavored to determine why these groups, who historically have seen less access to banking services, continue to face limitations to accessibility, affordability, and use of banking services.

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The National Credit Union Administration (NCUA) has issued its 2022 supervisory priorities to credit union boards of directors and chief executive officers.

The agency stated it recognizes the ongoing challenges faced by credit unions and their efforts to assist members affected by the ongoing COVID-19 pandemic. As a result, its flexible examination scheduling policy will continue into 2022.

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The National Credit Union Administration appointed its vice president of the Central Liquidity Facility (CLF) to president of the corporation.

The CLF is a mixed-ownership government corporation created by Congress to improve the general financial stability of credit unions.

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The National Credit Union Administration board has extended the temporary regulatory relief put in place for credit unions because of the COVID-19 pandemic.

The temporary final rule was originally issued by the board in April 2020.

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The National Credit Union Administration named its director of the Office of Business Administration as the new director of the Office of Examination and Insurance.

Her new duties will begin on Jan. 1, 2022.

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In a letter to Sen. Pat Toomey (R-Pa.), the National Credit Union Administration requested enhancements made to the central liquidity facility by the Coronavirus Aid, Relief, and Economic Security Act be made permanent.

Unless Congress acts, these changes will expire on Dec. 31, 2021.

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