WASHINGTON (8/5/13)--The 30-day comment period set by the National Credit Union Administration for its plan to require all federally insured credit unions (FICUs) to file financial, statistical and other reports electronically will end Sept. 3, according to an Aug. 2 Federal Register document.
When the agency proposed the change at its July 25 open board meeting, staff noted that a 30-day public comment timeframe, rather than the more-typical 60-days, would be sufficient NCUA for what the agency considers a "simple" change.
If the rule is adopted, the reports and credit union profiles would have to be filed using the agency's information system or other means specified by NCUA. Manual filing would no longer be an option, so every FICU would have to maintain a computer with internet access and an e-mail address.
The Credit Union National Association has issued a Comment Call seeking credit unions' views on the proposal by Aug. 15. Use the resource link to access that and other CUNA Comment Calls, as well as the Federal Register document.