Compliance Blog

NCUA's monthly board meeting takes place today.  Here is a link to today's itinerary.  If you are reading this after 9 a.m. EST on Thursday, you can see the draft board items here.

I've highlighted the interesting items below:

1. Request from Horizon One Federal Credit Union to Convert to a Community Charter.        
2. Quarterly Insurance Fund Report.
3. Reprogramming of NCUA’s Operating Budget for 2008.
4. Proposed Rule:  Parts 702 and 704 of NCUA’s Rules and Regulations, Prompt Corrective Action; Amended Definition of Post-Merger Net Worth.
5. Final Interpretive Ruling and Policy Statement (IRPS) 08-1, Guidance Regarding Prohibitions Imposed by Section 205(d) of the Federal Credit Union Act.
6. Request for Board Authorization to Seek Approval for a New Agency Seal.

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I also wanted to give a shout-out to NAFCU's Congressional Caucus.  This conference takes place each September in Washington, D.C.  NAFCU's Congressional Affairs staff does a great job of attracting key NCUA and Congressional leaders.  A good understanding of the legislative system is a must for today's compliance officer.  And this conference is a great way to see what is brewing on Capitol Hill.  You can go here for additional details.