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TOM SAKASHSTAFF NEWSWRITER

News Now

Washington
UDAP NCUSIF report stand alone on NCUA agenda
ALEXANDRIA, Va. (1/29/10)—Today’s National Credit Union Administration (NCUA) open board meeting, the first of the new year, is expected to be relatively short and sweet with just a UDAP action and insurance fund report on the agenda. The agency announced last week that it will consider withdrawing a final rule that addresses Part 706 of its Unfair and Deceptive Practices rules. The Credit Card Accountability, Responsibility and Disclosure Act of 2009 (Credit Card Act) essentially codified the final rule and would supersede the rule to the extent there were differences among the provisions, a point made by the Credit Union National Association in a comment letter to the agency. The board will also be updated on the status of the National Credit Union Share Insurance Fund during the meeting. A closed meeting of the board--during which the NCUA will discuss supervisory activities and personnel matters--will follow the open session. It is unusual for an open board meeting to be scheduled for any day other than the third Thursday of the month; however, the agency had an off-site senior staff planning session that presented a scheduling conflict. All other 2010 board meetings are currently scheduled for Thursdays.


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