Closed Board Meeting - December 12, 2013 | National Credit Union Administration

December 2013

Closed Board Meeting - December 12, 2013

Board Action Bulletin

The NCUA Board unanimously approved placing Bagumbayan Credit Union into conservatorship under Sections 206(h)(1)(A) and (D) of the Federal Credit Union Act.

The NCUA Board considered an appeal under Section 701.14 and Part 747, Subpart J of NCUA’s Rules Regulations that remains confidential at this time.

The NCUA Board considered a personnel matter that remains confidential at this time.

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The 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, the NCUA operates and manages the National Credit Union Share Insurance Fund, insuring the deposits of more than 124 million account holders in all federal credit unions and the overwhelming majority of state-chartered credit unions. The NCUA also protects consumers and educates the public on consumer protection and financial literacy issues.