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Closed Board Meeting December 6, 2012

Board Action Bulletin

The NCUA Board voted unanimously to uphold the decision of the Asset Management and Assistance Center denying a creditor appeal arising from the liquidation of Constitution Corporate Federal Credit Union.

The NCUA Board unanimously approved the formal termination of three vacated pilot programs as well as the termination of a fourth investment pilot involving the authority to short sell US Treasury securities and resolved not to add short sale authority as a general investment power in Part 703 of the NCUA Regulations. Additionally, the Board unanimously approved an action to address active pilot programs for financial derivatives at a later action date which may take the form of a proposed rulemaking and active derivative pilot programs will remain under a moratorium until that time.

The NCUA Board unanimously approved Lawrence Blankenberger as the Region I Director.

The NCUA tweets all open Board meetings live. Follow @TheNCUA on Twitter, and access Board Action Memorandums and NCUA rule changes at www.ncua.gov. The NCUA also live streams, archives and posts videos of open Board meetings online.




NCUA is the independent federal agency created by the U.S. Congress to regulate, charter and supervise federal credit unions. With the backing of the full faith and credit of the United States, NCUA operates and manages the National Credit Union Share Insurance Fund, insuring the deposits of account holders in all federal credit unions and the overwhelming majority of state-chartered credit unions. At MyCreditUnion.gov, NCUA also educates the public on consumer protection and financial literacy issues.

--NCUA--

Office of Public & Congressional Affairs

703.518.6330
pacamail@ncua.gov

Contacts:

John Fairbanks
Office: 703.518.6336
Mobile: 571.438.0801
jfairbanks@ncua.gov

Ben C. Hardaway
Office: 703.518.6333
Mobile: 703.298.5223
bhardaway@ncua.gov

Kenzie Snowden
Office: 703.518.6334
ksnowden@ncua.gov

"Protecting credit unions and the consumers who own them through effective regulation"

9/24/2018 2:28 PM