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Two finals one proposal at Fryzels first meeting
Click to view larger image NCUA Board nominee Michael Fryzel before his June 3 Senate Banking Committee hearing on Capitol Hill. (Photo provided by CUNA)
WASHINGTON (9/19/08)—The National Credit Union Administration (NCUA) is scheduled to take up two final rules at its open board meeting next Thursday, one addressing requirements for use of the official insurance sign in advertising and the other intended to streamline the agency’s system for complying with freedom of information and privacy laws. The meeting will be the first of its kind since Michael Fryzel became chairman of the agency. He was sworn in on July 30 and historically the NCUA suspends open board meetings for the month of August. The Freedom of Information Act and Privacy Act proposal slated for final consideration combines both housekeeping and substantive changes. It incorporates recent amendments to the Freedom of Information Act, adds definitions, and revises and clarifies provisions implementing the Privacy Act. The other item up for a vote--the NCUA proposed revisions to requirements for use of the official insurance sign and official advertising statement--would permit insured credit unions to use the basic form of the official advertising statement, a shortened form, or the official sign in advertisements. The rule, if adopted, is expected to give credit unions added flexibility in advertisements. A third and final item on the Sept 25 agenda is a proposal to address Part 742 of NCUA’s Rules and Regulations, involving its Regulatory Flexibility Program. Use the resource link below to access the agenda.
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