NCUA today: Truth in Savings, operating budget on agenda
ALEXANDRIA, Va. (7/29/10)—The National Credit Union Administration (NCUA) later today is expected to approve an interim final rule addressing the Truth in Savings Act.
The interim final rule follows the July 6 enactment of the Federal Reserve's Regulation DD, which addresses depository institutions' disclosure practices related to overdraft services, including balances disclosed to consumers through automated systems.
The NCUA will also discuss a proposed rule on so-called golden parachutes and indemnification payments as well as interim final rules that address the definition of low income.
The Credit Union National Association will also be monitoring the NCUA's discussion of its upcoming operating budget, as this discussion could portend changes to the regional structure of the NCUA. Increases in funding could also indicate expansion of some NCUA offices or programs.
The monthly insurance fund report and the financial status of credit unions in general will also be addressed.
The NCUA will cover supervisory activities during a closed session, and another cosed board meeting is scheduled for Friday.
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