In response to the vocal criticism of the proposed 9.6% increase to NCUA’s operating budget for 2023, the board finalized its spending plan with $6.7 million cut from the final numbers reports Esteban Camargo.
The NCUA board agreed to a compromise budget that will return $15 million to credit unions next year and set the agency’s normal operating level at 1.33% for 2022, reports David Baumann of the Washington Credit Union Daily. The NCUA board also made decisions on final rules for the capital adequacy regulation and mortgage servicing rights.
NCUA board Vice Chairman Kyle Hauptman believes that the NCUA must make it easier for groups to form new credit unions and should stop encouraging small, struggling credit unions to merge, reports David Baumann of the Washington CU Daily.
CUSO Magazine Supervising Editor Esteban Camargo urges caution when it comes to evaluating new NCUA board member Kyle Hauptman, citing McWatters as a cautionary tale of early promise and a disappointing end.
Chip Filson reflects on Kyle Hauptman’s first NCUA board meeting, how he chose to break from the script, and what it may predict for the rest of his time on the NCUA.
Announcing National Credit Union Administration staff moves: J. Owen Cole is retiring and Sarah Canepa Bang has been hired by Vice Chairman Kyle Hauptman as his senior advisor, reports David Baumann of the Washington Credit Union Daily.
David Baumann reports on Kyle Hauptman’s statements and answers to the Senate Banking Committee, including opinions on credit unions’ status as MDIs, overdraft policies, and virtual examinations.