Round Two of Proposed Corporate Regs on the Way
NCUA will propose a second round of corporate rules, releasing the items for comment as early as November, said Deputy Executive Director Larry Fazio.
The rules will be based upon suggestions received by the regulator in comments submitted for proposed corporate rules that were finalized today during NCUA's special board meeting, he said. Due to mandated federal administrative procedures, NCUA could not simply add the suggestions to today's final rule. Rather, Fazio said any new proposals must go through the comment process before approval.
One possible proposal would be to permit corporates to charge a membership or annual fee at their discretion, and use the fees to build capital and retained earnings, he said.