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Credit unions are anxiously anticipating the NCUA board’s monthly meeting Nov. 19, thanks to a field of membership proposal on the agenda.

Federal credit unions are demanding FOM regulatory relief, and state regulators’ ability to draft less restrictive rules has spurred a new flight away from the federal charter, as Vice Chairman Rick Metsger pointed out back in March. At the time, credit unions were converting to state charters at a three-to-one rate compared to conversions from state to federal.

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