ALEXANDRIA, Va.—NAFCU met with NCUA Chairman Todd Harper this week at the agency’s headquarters here and discussed credit union priorities.
In attendance were NAFCU President Dan Berger, Senior Vice President of Government Affairs Greg Mesack, Vice President of Regulatory Affairs Ann Petros, and Regulatory Affairs Counsel James Akin attended.
According to NAFCU, during the meeting it requested NCUA raise the permissible interest rate ceiling to “mitigate unnecessary interest rate risks facing federal credit unions.”
NAFCU said it also urged the agency to establish a floating permissible interest rate ceiling equal to a 15% spread over the prime rate or alternatively extend the 18% permissible interest rate ceiling for the maximum allowable period of 18 months, no fewer than 90 days before its scheduled expiration on March 10, 2023.
Also Discussed
The group also discussed ways to help credit unions better serve their members by adopting lessons learned from the pandemic, NAFCU said, with the discussion also touching on FCOM rules related to survivorship, loan participation requirements, and commercial loan thresholds.
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