NCUA

The Senate Banking Committee will vote this week on Kyle Hauptman's nomination to the NCUA board while the full chamber continues to debate additional coronavirus relief measures.

The regulator banned a former employee of a Florida-based credit union from working at any federally insured financial institution.

The regulator approved a proposal that mirrors a rule banking regulators implemented in February 2019 to cushion the Current Expected Credit Losses standard's impact on capital levels.

Many in the industry support the National Credit Union Administration’s attempts to streamline regulations governing corporate credit unions, but critics claimed some elements could make it tougher to compete with fintechs.

A proposal to expand credit unions’ access to subordinated debt drew plenty of fire from bankers, but there are also concerns the regulation could be problematic for the institutions it aims to help.

The National Credit Union Administration will also discuss the current expected credit losses standard, which trade groups have argued that the industry should be exempt from.

The credit union regulator can accomplish so much more when board members work in a good-faith, fair-minded manner.

A letter from the National Taxpayers Union requested changes, such as requiring federal credit unions to fill out a certain IRS form for non-profits, before lawmakers considered easing member business lending limits.

Kyle Hauptman pledged to focus on capital reform and expanding access for the underserved if confirmed to the credit union regulator's board, but one senator questioned whether the nominee was even qualified to serve.

The credit union regulator can accomplish so much more when board members work in a good-faith, fair-minded manner. It needs to renew that attitude.