Federal credit unions would have an additional option for to offer Payday Alternative Loans under a proposal issued at Thursday’s NCUA board meeting. The board also finalized its rule on claims procedures.
Credit unions interesting in coordinating with NCUA in the agency’s streamlined Community Development Financial Institution certification applications process will be able to do so from June 4-22 and Sept. 10-28 this year.
CUNA supports NCUA taking administrative action to address due process in the agency’s procurement processes, it wrote to the agency Wednesday in response to NCUA’s proposed suspension and debarment procedures.
CUNA suggested several modernizations to the Federal Credit Union Act in a letter sent to NCUA Tuesday in response to the agency’s advanced notice of proposed rulemaking improve Federal Credit Union Act bylaws.
NCUA finalized two rules Thursday, one on stress testing, and one on advertising. The stress testing rule is effective June 1, the advertising rule will be effective 30 days after publication in the Federal Register.