The NCUA plans to release an official letter to credit unions next week that will outline how they can merge with struggling credit unions.
During NCUA's Town Hall webcast today, Chair Debbie Matz said the agency has received feedback from credit unions asking for more transparency regarding the process by which the NCUA recruits merger partners for credit unions under prompt corrective action. In addition to the letter, the regulator also hopes to create a registry of merger candidates by early next year, so regional office NCUA staff can solicit interested and eligible credit unions, she said.
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