CUNA, NAFCU and NASCUS said there were few surprises in the proposed corporate credit union rules that the NCUA Board sent out for 90 days of public comment today, but pledged to examine them carefully and submit comments to the agency.

“A number of the safety and soundness provisions of the proposed rule on corporate credit unions issued appear to be broadly consistent with many of the recommendations made by the CUNA/NAFCU Joint Task Force on corporate regulation. However, we do intend to use the entire comment period to look carefully at the complete proposal and develop a comprehensive view. This is the most far-reaching rule that that agency will produce for some time in this area; it remains to be seen if this proposed model is one that will be supported by natural person credit unions and allow a sufficient number of corporates to continue to serve them,” CUNA President/CEO Dan Mica said in a statement.

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