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News Now

Washington
NCUA Board Meeting Today Is Metsger's Debut
ALEXANDRIA, Va. (9/12/13)--New National Credit Union Administration board member Richard Metsger will take part in his first agency board meeting today, and a final version of fixed-asset regulations will be the top item on the agenda.

NCUA board member Richard Metsger, right, speaks with (from left) Credit Union National Association Deputy General Counsel Mary Dunn, CUNA General Counsel Eric Richard and Northwest Credit Union Association President/CEO Troy Stang before his Senate confirmation hearing earlier this year. (CUNA Photo)
This will be the first board meeting held since Metsger was sworn in on Aug. 23. The NCUA did not hold an August board meeting.

 A proposed version of the fixed-asset rule changes included plain language revisions, new definitions and rewordings that impact the current fixed-assets rule, Section 701.36. That rule allows federal credit unions to purchase, hold and dispose of property necessary or incidental to their operations. These fixed assets include office buildings, branch facilities, furniture, computer hardware and software, and ATMs.

The Credit Union National Association has spoken in support of these proposed fixed-asset rule changes, noting the amendments would clarify the regulation by improving its organization, structure and ease of use. However, CUNA did suggest some improvements.

Other items on today's NCUA agenda include:
  • A community charter expansion request filed by Peoples Advantage FCU, Chester, Va.; and
  • A proposed rule addressing charitable donation authorizations.
The closed portion of the agency's board meeting is set to follow this morning's open session. NCUA supervisory activities are the lone item on that meeting agenda.

Watch CUNA News Now and the News Now twitter feed, @NewsNowLiveWire, for up-to-the-minute coverage of today's board meeting.
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