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Fryzel Votes Against Home-Based CU Rule: On-Site at NCUA

ALEXANDRIA, Va. Proposed rule prompted by challenges to NCUA's right to access home-based credit unions.

By Nicholas Ballasy | Updated on December 12, 2013

ALEXANDRIA, Va. — NCUA Board Member Michael Fryzel voted against a proposed rule at the body’s monthly meeting on Thursday that would prohibit federal credit unions from operating out of homes. Both Chairman Debbie Matz and Board Member Rick Metsger voted in favor of the rule.

Part of the proposed rule, which would go into effect two years after the final rule’s effective date, would not only prohibit federal credit unions from operating out of homes, it would also prohibit the storage record there, according to the board action memorandum. Credit unions and other interested parties have 30 days to comment on the proposal.

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