ALEXANDRIA, Va.–In addition to passing new field of membership rules, the NCUA board has also put out for comment a propsed rule that would make even more changes.
Now out for 30-day comment, the proposed rule is in response to “stakeholder suggestions received during the initial field-of-membership rulemaking, but which could not be incorporated because of the Administrative Procedure Act,” according to the agency.
Specifically, the proposed rule would:
- Raise the current population cap for a “well-defined local community” from 2.5 million people to ten-million.
- Allow the use of a narrative approach to create a new well-defined local community.
- Correct an error in the final rule that inadvertently restricts fields of membership inside core-based statistical areas to not more than 2.5 million people in a metropolitan division, rather than the core-based statistical area.
The proposed rule also asks questions about possible alternative approaches to field-of-membership issues and gives stakeholders an opportunity to comment, the agency said.
Comments on the proposed rule, available online here, must be received within 30 days of publication in the Federal Register.