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NCUA proposes changes to RegFlex program today
ALEXANDRIA, Va. (3/18/10)--Today's National Credit Union Administration (NCUA) open board meeting will be headlined by discussion of proposed changes to portions of the NCUA’s regulatory flexibility (RegFlex) program. The NCUA's five-year strategic plan and the fiduciary duties of federal credit union officials when considering merging or conversion of credit unions will also be discussed. The merger/conversion changes were first proposed in a notice of proposed rulemaking issued by the NCUA in early 2008. The goal of that ANPR was to determine if any new rules were needed for credit unions that merge or convert to another type of financial institution. The Credit Union National Association has recently set up a working group to address how the NCUA selects and pursues credit union mergers. The board will also be updated on the status of the National Credit Union Share Insurance Fund during the open portion of the meeting, with a closed NCUA board meeting set to follow.


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