October 2016 NCUA Board Meeting and Budget Briefing Videos Available

ALEXANDRIA, Va. (Dec. 1, 2016) – The video recordings of the Oct. 27, 2016, open meeting of the National Credit Union Administration Board and the agency’s budget briefing are now available on the agency’s website.

Archived videos of past Board meetings may be viewed here, and each video remains on the site for one year.

At the October meeting, the Board unanimously approved five items:

• A final rule modernizing existing field-of-membership definitions for federal credit unions to improve consumer access to affordable credit.
• A proposed rule to provide further field-of-membership community charter options for federal credit unions. 
• A final rule re-naming NCUA’s consumer office as the Office of Consumer Financial Protection and Access to clarify its function and role in promoting consumer access to affordable financial services.
• A final rule adjusting civil monetary penalties for inflation, as required by Congress.
• An interagency proposed rule to implement the private flood insurance requirements for loans in special flood hazard areas contained in a 2012 statute.

At the open Board meeting, the Office of Examination and Insurance also conducted a briefing on issues relating to credit unions using supplemental capital for risk-based capital calculations.

At the agency’s budget briefing, NCUA’s Executive Director and Chief Financial Officer presented a detailed proposal for the agency’s 2017–2018 budget, and the Board heard comments from credit union industry stakeholders. The video of the budget briefing may be viewed on the agency's budget resource center webpage.

NCUA posts these videos as part of the agency’s ongoing efforts to provide transparency and to allow those unable to attend Board meetings the opportunity to become better informed. An interval between the meeting and posting is necessary for the videos to comply with Section 508 of the Rehabilitation Act for the hearing and visually impaired. The Board Actions page of NCUA’s website has more information, including Board agendas, which are posted at least one week in advance of each open meeting, copies of Board Action Bulletins, which summarize the meetings, copies of Board memorandums and other documents.