WASHINGTON, Jan. 28 -- National Credit Union Administration has issued a proposed rule called: Requirements for Insurance; Maximum Borrowing Authority.
The proposed rule was published in the Federal Register on Jan. 28 by Melane Conyers-Ausbrooks, Secretary of the Board.
Summary: The NCUA Board (Board) seeks comment on a proposed rule to remove the maximum borrowing authority from the NCUA's regulations that establish the requirements for obtaining and maintaining federal share insurance with the National Credit Union Share Insurance Fund (Share Insurance Fund). This provision applies to all federally insured credit unions (FICUs). Removing this regulation would eliminate an unnecessary provision that duplicates the statutory maximum borr...