NATIONAL CREDIT UNION ADMINISTRATION ISSUES PROPOSED RULE: BANK CONVERSIONS AND MERGERS, SUBPART C-MERGER OF INSURED CREDIT UNIONS INTO BANKS

WASHINGTON, April 22 -- National Credit Union Administration has issued a proposed rule called: Bank Conversions and Mergers, Subpart C-Merger of Insured Credit Unions Into Banks.

The proposed rule was published in the Federal Register on April 22 by Melane Conyers-Ausbrooks, Secretary of the Board.

Summary: The NCUA Board (Board) is proposing to amend its regulations governing the merger of insured credit unions into banks. The Board proposes to eliminate certain prescriptive procedural, disclosure, and communication requirements. This action is necessary to reduce unnecessary regulatory burdens and provide credit union boards of directors with greater flexibility to exercise their business judgment. The intended effect of these changes ...