Law and regulation

The credit union regulator's budget briefing could produce fireworks, but possible Senate action could make the result of an eventual budget vote a foregone conclusion.

The biggest questions following the former chairman's resignation aren't about regulation but whether the agency can recapture a spirit of bipartisanship and collaboration.

It remains unclear how Mark McWatters's departure will impact the credit union regulator, and there is growing evidence that the country could face a "double-dip recession."

The former chairman recently butted heads with colleagues over the agency’s budget plans, and the Senate is expected to vote to confirm a successor early next month.

The credit union regulator's November board meeting covered a variety of issues, including the voluntary self-assessment, disagreements on the budget proposal and the possibility of new insurance premiums in 2021.

Credit unions will have their first opportunity to hear from the federal regulator about its recently released budget proposal and also get an update on the agency's diversity self-assessment.

The group includes many advocates for stricter bank regulation from the Obama administration; the president-elect may have as many as three open seats on the central bank or as few as none.

The chairman of the National Credit Union Administration said during his limited time in a Senate Banking Committee hearing that he hoped changes to the agency's Central Liquidity Facility would last for the duration of the pandemic.

The industry is calling for lawmakers to extend changes to NCUA's Central Liquidity Facility and more before Congress adjourns.

Former Commodity Futures Trading Commission Chairman Gary Gensler and KeyBank NA executive Don Graves have been tapped to examine financial regulators as part of Joe Biden’s presidential transition, according to a person familiar with the matter.