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.
CUNA generally supports NCUA’s proposed changes to appeals and Supervisory Review Committee procedures, as it would provide more uniform board appeals procedures across NCUA regulations allowing for informal appeals to the board.
An amended merger rule should not increase the burden for the merging or acquiring credit unions, CUNA told NCUA Monday in response to the agency’s proposed rule to alter federal credit union merger procedures.
NCUA’s plan to close the Temporary Corporate Credit Union Stabilization Fund and setting the share insurance fund’s operating level was published in the Federal Register Thursday. Comments on the proposal are due by Sept. 5.
The NCUA announced consolidation of regional offices and reorganization of staff Friday as part of Chairman J. Mark McWatters’ reevaluation of agency operations, including consolidation of the 5 regional offices into 3.
While proposed changes to the CFPB prepaid accounts rule provide some clarity, it will not be helpful for most prepaid card users and CUNA remains opposed to the rule’s application of Regulation Z to certain prepaid cards.
While the DOD has affirmed the Military Lending Act’s effective date for credit card accounts of Oct. 3, CUNA is engaged with legislators to build support for efforts to exempt credit unions from the rule.