NCUA Won’t Release Comments on Prepayment Proposal
Saying that it wants to encourage people to be more forthright, the NCUA doesn’t plan to release comments it receives on its proposal to allow credit unions to prepay their premiums to defray the costs of the rescue of rescuing corporate credit unions.
Agency spokesman David Small wrote in an email that NCUA officials believe they believe they will “get more frank feedback from credit unions on their ability to participate if we didn’t post their comments publicly.’’
The agency isn’t formally soliciting comments, as it would a proposed rule, but is accepting them until June 20. The NCUA Board could hold a special meeting later that week to decide whether to implement the program.