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ALEXANDRIA, Va. — The NCUA Board approved two proposed regulations that aim to provide procedures to put information into credit union members’ hands while still protecting privacy and avoiding business disruptions.

Under one proposal, NCUA would require merging federal credit unions to provide within their merger plan disclosure of “material” executive compensation and disclose to the membership the existence of this arrangement. The rule is designed to inform members of the existence of material compensation–defined as a 15% increase or $10,000, whichever is greater, and including benefits and bonuses–provided to the merging credit union’s executives or in retention contracts.

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