Company Overview of National Credit Union Administration
1775 Duke St.
Alexandria, VA 22314-6113
Key Executives for National Credit Union Administration
Chief Information Officer
Compensation as of Fiscal Year 2016.
National Credit Union Administration Key Developments
National Credit Union Administration Announces Management Changes
Jan 27 17
President Donald Trump has named J. Mark McWatters as the new chairman of the National Credit Union Administration board. McWatters, a Republican, replaces Democrat Rick Metsger, who was named chairman in May 2016, after being elected as vice chairman in September 2014. McWatters said he is committed to bringing regulatory relief to the extent permitted by law and to protecting the deposits of the more than 106 million Americans who rely on federally insured credit unions. McWatters has been on the NCUA board since August 2014. His term runs to Aug. 2, 2019. Metsger joined the NCUA board in August 2013. He will remain on the board, but his term comes due in August.
Court Dismisses ICBA Suit against NCUA Over Business Lending
Jan 25 17
The U.S. District Court of the Eastern District of Virginia has dismissed the suit filed by the Independent Community Bankers of America against the National Credit Union Administration over its new rule on business lending. The ICBA in September filed suit against the NCUA over changes to its member business lending rule including the removal of loan-to-value limits on commercial loans and the elimination of requirements for credit union customers to personally guarantee small-business loans. The court dismissed the case on procedural grounds but indicated it would also have been dismissed on its merits.
The American Bankers Association Files Lawsuit against the National Credit Union Administration
Dec 7 16
The American Bankers Association has filed a lawsuit against the National Credit Union Administration, arguing that the regulator's new field-of-membership rules go too far. The association filed the lawsuit in the U.S. District Court for the District of Columbia, alleging that the rule 'disregards Congress' explicit instruction that community credit unions serve only a single, well-defined local community. Instead, it declares that large regions including millions of residents and cutting across multiple states are single 'local' communities. Calling the rule part of an ongoing effort by the NCUA to expand the size and scope of credit unions, the ABA suggested the new rule goes well beyond congressional limits. Nichols suggested that the NCUA's action would impact all taxpayers. The NCUA is now facing two different legal challenges from banks. The Independent Community Bankers of America recently filed a lawsuit challenging the agency's reform of its member business lending rules.
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