Review of 'small entity' threshold tops today's NCUA agenda
ALEXANDRIA, Va. (2/19/15)--At today's open board meeting--to be livestreamed through the agency's website--the National Credit Union Administration will consider a proposal that could change the Regulatory Flexibility Act definition of small entity for consideration of regulatory relief.
Two years ago the agency increased the small entity definition for credit unions to those with less than $50 million in assets, up from $30 million in assets. At that time, the NCUA vowed to revisit the definition to consider another adjustment in 2015.
Under the RegFlex Act, government agencies are required to assess the impact proposed rules would have on anything defined as a "small entity."
CUNA welcomes any review of the definition for the purpose of regulatory relief, since it believes the $50 million threshold is far too low.
Also on the agenda today is the quarterly update on the National Credit Union Share Insurance Fund, and a request from $132 million-asset Taunton (Mass.) FCU to adopt a community charter.
Those interested in viewing the livestream of today's meeting must register beforehand. According to the NCUA, future board meetings will be streamed in a similar way, but viewers must register for each month's meeting.