NCUA to hold briefing for 'insight' to board discussions
May 18, 2016 -- Stating that he wants to provide credit union stakeholders with “insight into our thought process” and give them the opportunity to “provide early input before any rulemaking begins,” NCUA Board Chairman Rick Metsger today announced new public “board briefings” in conjunction with board meetings.
“Due to federal sunshine laws, and the fact that NCUA has never had more than three Board members, we cannot deliberate on policy issues, except at open meetings,” Metsger stated in a release. “What we’re doing is giving Board Members an opportunity to talk directly to one another, exchange thoughts and ideas. It also provides the broader credit union community with insight into our thought process. Since no action is being taken, stakeholders will also have the opportunity to consider our discussion and provide early input before any rulemaking begins.”
Metsger said the first briefing will be tomorrow (May 19) in conjunction with the board’s regularly scheduled, open meeting. Among their discussions: agency plans to modernize the Call Report and Profile and the system for reporting and storing credit unions’ information. (Call Report modernization is already on the NCUA Board’s agenda for tomorrow, along with a Corporate Stabilization Fund Quarterly Report.)
The NCUA Chairman also stated that, when time allows in the future, NCUA Board meetings will include briefings in order to give Board Members a chance to talk about evolving issues.
“If these initial briefings and discussion are valuable because they provide stakeholders with better visibility into the workings of the agency, I’d like to expand the practice,” Metsger said. “When a Board agenda is light enough that it gives us the luxury of time for thoughtful analysis and discussion while providing greater visibility to the regulated community on what we’re contemplating, I want to take advantage of that opportunity.”
LINK:NCUA press release: Chairman Metsger Initiates Board Briefings on Evolving Credit Union Issues