ALEXANDRIA, Va. — A final rule approved Thursday by the NCUA Board eliminates use of credit ratings as standards of investment creditworthiness.
Final rule would remove references to credit ratings in NCUA regulations as they apply to the credit unions' analysis of investments.
Democrat Martin Gruenberg was confirmed by the Senate late Thursday to serve as FDIC chairman.
Slowed pace of proposed and finalized regs resulted in three canceled monthly meetings in 2012.
At next Thursday's meeting, the board will consider a proposed rule on the acceptance deadline for low-income designation.
Change is inevitable at the NCUA following the announcements by Board Member Gigi Hyland and Executive Director David Marquis that they’re leaving the agency.
Executive will likely be promoted from within the NCUA.
Hyland, a Democratic appointee by President George W. Bush in 2005, has been serving on an expired appointment since August 2011.
ALEXANDRIA, Va. – Federally insured credit unions have two new proposed rules to consider, new corporate assessment after the NCUA Board met Tuesday.
NCUA Board Member Michael Fryzel addressed audience of about 600 at Michigan Credit Union League conference on Friday.