Comment letters regarding the NCUA's proposed rule to increase the maximum threshold for a small credit union to $30 million in assets, from the current limit of $10 million, reveal that many think $50 million is a more reasonable figure.
The comment period, which the NCUA extended from Oct. 25, closed Monday.
NAFCU Regulatory Affairs Counsel Tessema Tefferi is among that group, saying at the very least, the NCUA should increase the threshold to $50 million because it would be close to that established by the CFPB for exemption from mortgage reporting requirements.
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