WASHINGTON, Oct. 15 -- National Credit Union Administration has issued a proposed rule called: Corporate Credit Unions; Fidelity Bond and Insurance Coverage for Federally Insured Credit Unions.
The proposed rule was published in the Federal Register on Oct. 15 by Melane Conyers-Ausbrooks, Secretary of the Board.
Summary: The NCUA Board (Board) seeks comment on proposed amendments to its regulations governing fidelity bond and insurance coverage for federally insured credit unions (FICUs). The proposed rule would eliminate certain prescriptive procedural mandates and simplify requirements for coverage amounts and deductibles. The intended effect is greater flexibility for FICUs, simplified compliance, and reduced administrative costs witho...