WASHINGTON, Jan. 28 -- National Credit Union Administration has issued a proposed rule called: Requirements for Insurance.
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) is issuing for public comment a proposal to amend 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). The provisions of this part apply to all federally insured credit unions (FICUs). The proposal would reduce regulatory burden by eliminating unnecessary and redundant requirements related to disclosing when nonmember accounts are not cove...