The NCUA Board doesn't plan to end the year quietly.
At its final scheduled meeting of 2010 next Thursday, the board will tackle merger policies, the definition of low income and the health of the insurance fund, among other subjects.
Board members will vote on a final rule on mergers and conversions. The proposed rule says that board members of federal credit unions could only get limited exemption from being sued for some of their actions. In addition, FCUs seeking to convert to banks would have to get an independent evaluation and board members and employees couldn't assist members in filling out ballots during conversion votes. NCUA's proposed rules mandate that voting must be conducted in secret and tallied by an independent entity and prohibit preliminary vote tallies.
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