The NCUA’s plan to close the Temporary Corporate Credit Union Stabilization Fund, along with a proposed rule and the agency’s strategic plan, were published in the Federal Register Wednesday after the board approved them last week.
CUNA forwarded a letter Thursday to the NCUA commenting on the agency’s proposed emergency merger rule, and objects to any proposed changes that would result in rigid guidelines forcing credit union mergers.
CUNA followed up last week’s letter to NCUA on the closing of the TCCUSF Tuesday with a letter proposing a transparent and equitable way to facilitate distribution of funds without a permanent increase in the NOL.
CUNA supports NCUA’s proposed changes to its regulations governing corporate credit unions, it wrote to the agency Friday in response to the proposal’s revisions to provisions on retained earnings and Tier 1 capital.
CUNA is the only national trade association for credit unions advocating for stabilization fund refunds to begin in 2018, but does have concerns with NCUA's proposal to raise the normal operating level to 1.39%.
NCUA’s proposed changes to the overhead transfer rate is consistent with CUNA’s continued opposition of transfer of agency expenses from the share insurance fund for non-insurance related costs, CUNA wrote to the agency Tuesday.
NCUA’s regulatory reform agenda appeared in the Federal Register Tuesday, and comments are due Nov. 20. A number of CUNA regulatory relief suggestions are present in the package of proposals, which were announced earlier this month.
NCUA Wednesday released a package of possible regulatory reforms and urged credit union stakeholders to read and comment. According to the agency, the reforms were recommended by an internal NCUA task force.