NCUA to Deal with Corporate Rule on April 21
The NCUA is slated to consider and vote on a final version of new corporate credit union regulations at its April 21 meeting, according to NCUA Chairman Debbie Matz.
She stated in her column in the April edition of the agency’s newsletter that agency staff members are drafting “potentially significant,’’ changes to the proposal, as a result of 227 comment letters.
Among the most controversial parts of the proposal, according to the comment letters, are provisions that would encourage corporate credit unions to levy a fee to members that are not federally insured in order to pay for the rescue of the corporate credit union system, and a provision limiting credit unions to only being members of one corporate credit union.
Click here to read Matz's column.
Click here to read the proposed rule.