AUSTIN, Texas — With just two days left to offer feedback on a proposed rule regarding unsolicited mergers, the Texas Credit Union Department said today it has not received any comment letters.
In mid-June, the Texas Credit Union Commission proposed a rule that would prohibit a credit union from offering a merger inducement to another credit union's members as a means of promoting a merger of the two credit unions. The Texas Credit Union League is strongly endorsing the proposal. The commission has also approved publishing for comment the proposed amendment to 7 TAC 91.1003 concerning mergers and consolidations.
According to Betsy Loar, general counsel at TCUD, who has been tracking comment letters, none have been received as of today. The deadline for submission is July 29.
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