Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

Washington
NCUA agenda potentially positive for CUs
ALEXANDRIA, Va. (9/14/12)--The National Credit Union Administration's (NCUA) September open meeting agenda, which was unveiled Thursday, "covers only items that are potentially positive for credit unions… as opposed to those that will impose undue burdens and create barriers for credit unions that divert their resources from member service," Credit Union National Association Deputy General Counsel Mary Dunn said.

Items on the open agenda include:

  • A proposed rule addressing regulatory relief for small credit unions;
  • A proposed rule that would permit credit unions to invest in Treasury Inflation Protected Securities;
  • A proposed rule that would expand the agency's definition of "rural district" for fields of membership; and
  • An Advanced Notice of Proposed Rulemaking related to payday-alternative loan regulations.
The NCUA in September of 2010 moved to allow federal credit unions to offer short-term, small amount loans to their members. The loans, which serve as alternatives to payday loans that are offered by other financial service providers, come with certain restrictions. Federal credit unions may charge an interest rate that is a maximum of 10 percentage points above the established usury ceiling at that time. A $20 application fee may also be charged. The loans may total as high as $1,000 and may last for as long as six months, and the loans cannot be rolled over.

The open board meeting is scheduled to begin at 10 a.m. ET on Sept. 20.

A closed board meeting will take place before the open meeting at 8:30 a.m. ET. Creditor claim appeals and personnel issues will be on the agenda for the closed meeting.

For the full NCUA agenda, use the resource link.
Other Resources

RSS





print
News Now LiveWire
.@NACHAOnline report: ACH volume increases to 23B payments in 2014 http://t.co/va2WYMh4Zv
22 hours ago
.@CUNA's @HampelBill in @washingtonpost on options for wary mortgage borrowers: http://t.co/CPSgTNgwmm
1 day ago
Housing starts thaw, mortgage rates stand pat #Market #NewsNow http://t.co/hhPj5v5AH3
1 day ago
.@CUNA files #RBC2 comment, urges #CU system to be heard #NewsNow http://t.co/yfoZHAMlZc
1 day ago
#NewsNow Youth Month attracts 100,000th member for Mich. CU http://t.co/cgF5o83XlK
1 day ago