{"id":"AGY-FED-FINANCIAL-029","kind":"context","level":"federal","jurisdiction":"United States; National Credit Union Administration (federal)","state":"","metro":"","industry":"","agency":"FED-FINANCIAL","eco":"","issuer":"NCUA Chairman Rodney E. Hood","authority":"12 U.S.C. § 1766(a); § 1784(a)","instrument":"Letter to Credit Unions 20-CU-02","title":"NCUA Actions Related to COVID-19","dateIssued":"2020-03-01","effective":"2020-03-16 (NCUA letter dated March 2020; NCUA news release of March 16, 2020)","end":"Not rescinded within the period","startDate":"2020-03-16","endDate":"2021-09-30","quarters":["2020Q2","2020Q3","2020Q4","2021Q1","2021Q2","2021Q3"],"types":["OTHER","GATH","CLOSE"],"addressees":["boards of directors and chief executive officers of all federally insured credit unions"],"clause":"The NCUA recognizes COVID-19 will impact credit unions and their members to varying degrees.... I want to assure you that the NCUA\u0027s examiners will not criticize a credit union\u0027s efforts to provide prudent relief for members when such efforts are conducted in a reasonable manner with proper controls and management oversight.... The FAQ outlines various options credit unions have, such as delaying annual meetings and how board meetings can be conducted. The FAQ also addresses issues related to some of the measures the NCUA is taking related to the examination and supervision process.","enforcement":"12 U.S.C. § 1786 (NCUA supervisory and enforcement authority); examination treatment","functions":["BR branches and lobbies","SV member accommodations (fee waivers, payment deferrals)","OP governance (annual and board meetings)","OP examinations","CB members"],"notes":"The NCUA\u0027s first COVID-19 letter; predicate for 20-FCU-02 (virtual meetings), 20-CU-05 (off-site examinations) and 20-CU-13 (borrower accommodations)","sourceUrl":"https://www.ncua.gov/regulation-supervision/letters-credit-unions-other-guidance/ncua-actions-related-covid-19","snapshot":"https://web.archive.org/web/2021/https://www.ncua.gov/regulation-supervision/letters-credit-unions-other-guidance/ncua-actions-related-covid-19","fileExists":true,"fileBytes":408378,"grade":"primary","character":"context","description":"","collection":"AGY-FED-FINANCIAL","url":"/library/AGY-FED-FINANCIAL-029","exhibitUrl":"/exhibit/AGY-FED-FINANCIAL-029","citation":"NCUA Chairman Rodney E. Hood, Letter to Credit Unions 20-CU-02 (Mar. 1, 2020) (Ex. AGY-FED-FINANCIAL-029)","stateName":"","related":["AGY-FED-FINANCIAL-030"]}