Credit union trade organizations picked apart the NCUA's Overhead Transfer Rate methodology during a public comment period that ended April 26.
The OTR determines what percentage of the NCUA's operating budget will be drawn from the National Credit Union Share Insurance Fund and used to cover expenses related to federal share insurance. In August 2015, the NCUA announced it would publish and seek comment on its OTR methodology for the first time in January 2016.
Comments on the agency's website were primarily written by state credit union agency and league leaders, including NASCUS president/CEO Lucy Ito, who called the NCUA's OTR methodology seriously flawed in a 20-page letter.
Continue Reading for Free
Register and gain access to:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts.
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders.
- Educational webcasts, white papers, and ebooks from industry thought leaders.
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com.
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
