WASHINGTON, Feb. 11 -- National Credit Union Administration has issued a proposed rule called: Chartering and Field of Membership for Federal Credit Unions-Interpretive Rulings and Policy Statements.
The proposed rule was published in the Federal Register on Feb. 11 by Melane Conyers-Ausbrooks, Secretary of the Board.
Summary: The NCUA Board proposes to rescind its Interpretative Ruling and Policy Statement 06-1 (IRPS 06-1). Rescinding IRPS 06-1 would ease the compliance burden on Federal credit unions (FCUs) by limiting the number of sources that FCUs must check to ensure compliance with applicable chartering and field of membership (FOM) requirements.
For more information, contact Keisha Brooks, Attorney-Advisor, Office of General Coun...