ALEXANDRIA, Va.–Today is the deadline for credit union leaders and other stakeholders to submit their comments on the NCUA’s proposed rule amending its chartering and field-of-membership rules.
As CUToday.info reported earlier, at its Feb. 16 meeting the NCUA board unanimously approved a proposed rule that would amend the chartering and field-of-membership rules through nine changes the agency said will “enhance consumer access to safe, fair, and affordable financial services, especially in under-resourced communities.”
In addition, NCUA said the proposed amendments will reduce duplicative or unnecessary paperwork and administrative requirements.
“These proposed amendments result from the agency’s experience in reviewing field-of-membership changes, community charter conversions, and adding underserved areas, along with its study of chartering and field-of-membership issues as part of the Advancing Communities through Credit, Education, Stability, and Support (ACCESS) initiative,” NCUA said.
Additional Notes
The agency further noted:
- The proposed rule includes a provision to allow all federal credit unions to better capture the “ongoing bond” between individuals within a field of membership and their immediate family members following the death of a member
- It is proposing a technical clarification and correction on the process for the NCUA to review and approve the character and fitness of a prospective federal credit union’s management and officials.
For additional info, visit Regulations.gov.
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