ALEXANDRIA, Va.—NCUA’s emergency merger proposal is atop brief agenda for this Thursday’s open board meeting.
The NCUA's emergency merger proposal, issued during its July open board meeting, would amend the definition of "in danger of insolvency" in the agency's chartering and field-of-membership manual. The proposal is intended to give the agency more flexibility in situations where an emergency merger is necessary, NAFCU explained.
While overall supportive of the modification to modernize forecasting procedures for emergency mergers, NAFCU said the rulemaking should contain increased transparency and a more streamlined process for smaller credit unions in its October comment letter.
Also on the board's agenda are some technical changes that need to be adopted in order to align with the agency's restructuring plan.