A Senate-passed bill mandating a study of the NCUA's oversight of the corporate credit unions and allowing the agency to make payments to the Temporary Corporate Credit Union Stabilization Fund without borrowing from the Treasury Department could be taken up by the House as early as tomorrow.
Currently, the agency has to borrow the money from the Treasury Department to repay the fund and then assess credit unions. Under the new law, the agency could assess credit unions a premium first, without incurring borrowing costs.
The credit union must pay the premium within 60 days and the measure requires the agency to "take into consideration any potential impact on credit union earnings that such an assessment may have."
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