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News Now

Washington
CUs can comment on Fed plan to define emergency lending program
WASHINGTON (1/14/14)--Credit unions can pass along their views on the Federal Reserve Board's proposed emergency lending rule through a Credit Union National Association regulatory call to action.

The Fed's proposed Regulation A changes are designed to ensure that any emergency lending program or facility is for the purpose of providing liquidity to the financial system, and not to aid an individual failing financial company.

CUNA has clarified that this proposed rule is not intended to affect the Fed's discount window lending to depository institutions.

CUNA is accepting comments until Feb. 24. The Fed has also released its own notice is accepting comments until March 7.

The CUNA call to action is one of many items featured in this week's CUNA Regulatory Advocacy Report. For the CUNA call to action and the Report, use the resource link.
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