NCUA says vast majority of LICUs already were below cap, same with the 1,003 offered the new opt-in.
As drought-stricken businesses across the country are in dire need of assistance, the Obama administration asked the regulators to find ways to provide aid. The NCUA responded by informing 1,003 credit unions of their eligibility for low-income designation and allowing them to opt-in rather than slogging through paperwork.
For fun, let’s pick apart what the Independent Community Bankers Association said about the NCUA’s move.
CU trades offer measured praise while ICBA blasts administration move as "outrageous."