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Michigan Credit Union League Home » Information Services » Publications » News Articles  

NCUA Delays Vote on Corporate Rule   (Monitor: September 20, 2010)

In an unexpected move, the NCUA board has chosen not to vote on a final corporate credit union rule at their monthly board meeting next week. The board had planned to discuss the rule and a plan to dispose of $50 billion in toxic assets.

“The NCUA Board has decided to consider these issues at a future meeting," said John McKechnie, chief spokesman for the agency.

The board will discuss a special assesment to replenish reserves for the national share insurance fund, which could be up to 15 basis points. Also on the agenda is a review of restrictions on credit union payday lending.

For more information see the article in the CU Times.

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