April 29 is comment deadline for NCUA fixed-asset plan
March 31, 2015
ALEXANDRIA, Va. (4/1/15)--Comments on the National Credit Union Administration's fixed-assets proposal are due to the agency by April 29, and to CUNA by April 24. The rule was published in the Federal Register this week, kicking off the proposal's 30-day comment period.
The proposed rule would eliminate the limit on fixed assets, currently at 5% of a credit union's total assets, eliminate all fixed-asset waiver provisions and establish a six-year partial occupancy time period for federal credit union premises.
During the NCUA's board meeting in March, when the rule was introduced, the agency said the risks that come with ownership of fixed assets will be addressed through the supervisory process.
A more detailed summary, as well as information on how to comment, can be found on CUNA's fixed-assets proposal page.