NCUA's proposed rule limiting CU membership to a single corporate is already drawing active industry response with more time being sought in line with surveys being taken by CUNA and NAFCU.
CUNA said Tuesday it is seeking CU input on various aspects of the proposed rules put forward at NCUA's November meeting and wants the credit union remarks by Jan. 14 in light of NCUA extending public comment period through Jan. 28.
The NCUA proposal, CUNA said, "would limit a natural person credit union to membership in only one corporate at a time to reduce 'rate shopping' among the corporates. Do you support such an approach? Do you agree with NCUA that 'rate shopping' is negative, in the sense that it led to excessive risk-taking by the corporates?"
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