NCUA

Sarah Canepa Bang will serve as a senior advisor to the agency's vice chairman. Separately, a 27-year veteran of the regulator announced plans to retire.

A new report from the National Credit Union Administration showed institutions in many states are struggling with a deluge of deposits while their lending opportunities are drying up.

This is the first time the agency has had a vice chairman since 2014.

The spending plan passed in a party-line vote, but board member Todd Harper's objections indicate he could push for closer oversight if President-elect Joe Biden elevates him to the chairmanship.

Starting in 2022, hundreds of newly eligible institutions will be able to raise funds from investors. Bankers argued that the change will further blur the line between the two industries.

Credit union trade groups said the regulator’s spending plan indicates the agency isn't listening to feedback and needs to make further cuts while providing more support for de novos.

Hauptman said dealing with the economic fallout from the coronavirus was a top priority for the agency, along with aligning incentives and expanding the use of technology in the industry.

Lawmakers and the credit union regulator have packed schedules this week as both groups attempt to wrap up their 2020 business before the holidays.

The credit union regulator's monthly meeting will cover the agency's budget proposal and subordinated debt, among other items, along with taking another shot at an overdraft proposal that was rejected earlier this year.

Credit quality has remained strong at credit unions, but there are hints that some of them — especially the smallest ones — could report lackluster earnings well into next year, according to the National Credit Union Administration's latest intel on industrywide finances.