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 extends comment period for FOM proposal
ALEXANDRIA, Va. (2/5/10)--The National Credit Union Administration (NCUA) on Thursday announced that it has extended the comment period for its recently proposed changes to its chartering and field-of-membership rules until April 15. The comment period for the chartering and field of membership changes, which would speed up, simplify, and enhance the objectivity of the community CU charter application and review process, was originally slated to end on March 1. In comments accompanying the announcement, NCUA Chairman /Debbie Matz said that the NCUA has extended the comment deadline “to allow the credit union community ample opportunities to give appropriate consideration” to both the field of membership proposal and proposed revisions to the corporate credit union rule. The comment period for the corporate revisions ends on March 9. If approved, the new rule would set objective and quantifiable criteria to determine the existence of a well-defined local community (WDLC) for areas that encompass multiple group areas. Single political jurisdictions, such as a county, could continue to be the basis for a community charter or addition without having to meet further statistical standards. A new, objective definition for rural districts is also proposed. The NCUA also further clarified its position on the U.S. Treasury’s decision to expand financial institution lending in low-income areas by allowing community development financial institutions, including credit unions, to access funds from its Troubled Assets Relief Program, announcing that the NCUA will “consider an interim final rule” that would “set forth guidelines for participation” at this month’s board meeting, which will take place on Feb. 18.


RSS





print
News Now LiveWire
Gas prices have fallen for a record 88 days in a row says @AAAnews via @washingtonpost http://t.co/c52VTdqHEB
16 minutes ago
.@TheNCUA releases regulatory modernization initiative results (PDF link) http://t.co/pgLZe4aget
46 minutes ago
#FinCEN seeks nominations of FIs, trade groups for membership on Bank Secrecy Act advisory group http://t.co/l5w58c277W
1 hours ago
MI pediatric dentist pledges $20K match to Hurley Children's Hospital if it wins @CUDirect's 20 for 20 http://t.co/Eq2nIPm6jo
2 hours ago
Kids learn budgeting with M&Ms http://t.co/SzXipTLX12
2 hours ago