ACU Endorses NCUA Relief Proposals, Says Fifth Deregulation Round Would Simplify Key Rules
By CU Today Staff —
WASHINGTON--The NCUA’s fifth round of Deregulation Project proposals contains three regulatory relief proposals. America’s Credit Unions filed comments Monday on all three in this phase.
Rescinding its Interpretive Ruling and Policy Statement limiting sources that federal credit unions must check to ensure compliance with applicable chartering and field of membership requirements.
Removing the requirement that NCUA make member comments on a proposed merger accessible and eliminating prescriptive formatting requirements for mandatory disclosure statements related to insurance conversion or termination.
Eliminating certain prescriptive requirements governing the conversion of insured credit unions into banks, aimed at reducing both cost and complexity.
Originally reported by CU Today.