AUSTIN, Texas — The feedback coming in on a proposal that addresses unsolicited mergers initiated by the Texas Credit Union Commission has been eerily scant.

Endorsed by the Texas Credit Union League, the proposed rule 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 commission announced the proposal at its June 15 meeting and sought feedback from credit unions during a comment period that ended July 29. At press time, only three Texas credit unions wrote comment letters, which are being tracked by Betsy Loar, general counsel at the Texas Credit Union Department.

Loar said the letters are not available for public viewing at this time, but will be sent to the Legislative Advisory Commission's meeting on Sept. 21. The Texas Credit Union Commission is planning to review the proposed rule at its Oct. 19 meeting. Although the July 29 deadline for comment has passed, Loar said credit unions can still submit feedback, but letters will not be submitted to the commission as record.