WASHINGTON—September will be a busy month on the regulatory front, when comments on a number of proposals important to credit unions are due.
CUNA noted that of most significance to credit unions is NCUA’s proposal to close the Temporary Corporate Credit Union Stabilization Fund in 2017 and transfer assets to the National Credit Union Share Insurance Fund. The rule would amend NCUA's share insurance rule to allow for an equity distribution from the share insurance fund.
That proposal has already drawn strong feedback, including opposition from NAFCU.
CUNA said it has worked closely with members of its Examination and Supervision subcommittee, leagues and CUNA member credit unions in composting its comment letter, which it plans to submit in the coming days.
Other deadlines in September include:
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Sept. 1: NCUA proposed rule on corporate credit unions. Specifically, the proposal revises provisions in NCUA’s rules governing corporate credit unions on retained earnings and Tier 1 capital
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Sept. 5: Federal Housing Finance Agency proposed rule on 2018-2020 enterprise housing goals
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Sept. 14: Consumer Financial Protection Bureau request for information on the small business lending market. According to the Bureau, it seeks to learn more about the small business financing market, including understanding more about the products that are offered to small businesses, including women-owned and minority-owned small businesses, as well as the financial institutions that offer such credit
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Sept. 25: Department of Labor request for information on defining and delimiting the exemptions for employees
- Sept. 29: NCUA proposed rule on emergency mergers. Specifically, the proposal covers changes to chartering and fields of membership