ALEXANDRIA, Va. (3/16/12)--The agency's diversity and inclusion strategic plan and technical changes were both approved at Thursday's brief National Credit Union Administration (NCUA) open board meeting.
The NCUA Diversity and Inclusion Strategic Plan, which was unanimously approved by the board, "will add more momentum toward building and sustaining a diverse NCUA work force" and brings the agency's efforts "to advance equal opportunity, diversity, and inclusion within NCUA" into sharper focus, NCUA Chairman Debbie Matz said.
The plan focuses on the agency's requirements for its own work force and use of vendors, but the NCUA and other regulators will also soon begin reviewing diversity policies and practices of the institutions they regulate. The agency has discussed how to approach these reviews with the Credit Union National Association, the National Association of State Credit Union Supervisors, credit unions and state credit union leagues, and others. CUNA and the leagues have stressed that NCUA must do all it can to minimize any new reporting or compliance requirements under this authority as well as the agency's undue interference in credit union operations.
The NCUA-approved technical changes came in the form of a final rule that immediately affects Parts 701, 760, and 790 of NCUA regulations, which address non-discrimination requirements, flood insurance and the agency's structure.
The final rule shifted responsibility for discrimination complaints that are received under the Fair Housing and Equal Credit Opportunity Acts to the NCUA's Office of Consumer Protection. Those complaints previously were sent to the NCUA's Office of Examination and Insurance. The NCUA also approved non-substantive changes to standard flood hazard determination forms, replacing the Federal Emergency Management Administration address listed on the form with that agency's website, fema.gov.
The agency also released its first quarterly financial report of 2012. (See related News Now story: NCUA report shows CU system improvement)
For more on the NCUA meeting, use the resource link.