ALEXANDRIA, Va. — The NCUA Board will be facing some hot button issues for its next board meeting.
On Thursday, May 24, the board will be looking at a proposal concerning Federal Credit Union Bylaws. Since they were taken out of NCUA's Rules and Regulations during deregulation, the agency has considered them a contract between the credit union and its members. However, since the failed conversion attempt of DFCU and the subsequent refusal of the DFCU Board to hold a special member meeting in contradiction with its bylaws, there has been talk of putting the bylaws–at least in part–back into regulation.
Additionally, NCUA will be considering a proposed rule concerning its Chartering and Field of Membership Policies. Earlier this year, the board denied the appeal of a community charter for two credit unions, 2-1, and promised to review Interpretive Ruling and Policy Statement 07-1 for clarification.
Finally, technical amendments are being offered as a final rule concerning part 701 of NCUA rules, which cover the organization and operations of federal credit unions.
A closed meeting will be held afterward regarding Section 205, Requirements governing insured credit unions, of the Federal Credit Union Act.
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