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.
The chairman of the National Credit Union Administration said during his limited time in a Senate Banking Committee hearing that he hoped changes to the agency's Central Liquidity Facility would last for the duration of the pandemic.
With a Democrat set to take the White House in January, the political balance at NCUA could shift amid changes for the CFPB and housing reform, and progressive banking ideas that were unthinkable over the past four years could gain traction.
