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 annual survey from the National Credit Union Administration shows credit unions making gains in some of their inclusion efforts, but the industry still has much it can do to improve.
The former chairman butted heads with colleagues over the agency’s budget this week, 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.
Savings to the credit union regulator's operating budget are largely the result of surplus funds from 2020 and expected reductions in travel into next year.
Bill Bynum, president and CEO of Hope Federal Credit Union, and Gail Laster, former director of the National Credit Union Administration's consumer-protection division, are working with the incoming administration.
