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.