Final FOM rule tops April 30 NCUA agenda

April 23, 2015
ALEXANDRIA, Va. (4/24/15)--Consideration of a final rule that would change field-of-membership regulations tops the agenda for the National Credit Union Administration's April 30 board meeting.

NCUA Director of Examination and Insurance Larry Fazio provided some insight into the final rule during testimony before a House subcommittee Thursday. (See related story: NCUA's Fazio highlights agency support for reg. relief legislation.)

"The final rule will include substantially more regulatory relief than the proposed rule as NCUA responds to the comments received," Fazio said. "For example, the Board will likely add five additional types of groups that will automatically satisfy the associational common bond provisions."

Other items on the agenda are:
  • Final rule on corporate credit unions concerning technical amendments;
  • Proposed rule on aggregate lending limit for corporate credit unions;
  • Proposed rule on adding share insurance coverage under interest on lawyer trust accounts;
  • An exemption request by the State of Connecticut Department of Banking;
  • Board briefing on a final interagency rule concerning minimum requirements for appraisal management companies; and
  • National Credit Union Share Insurance Fund quarterly report.
Registration is still open for the live video feed of the meeting. Reminder, individuals interested in watching the meetings online must register each month.