WASHINGTON, May 7 -- National Credit Union Administration has issued a proposed rule called: Requirements for Insurance.
The proposed rule was published in the Federal Register on May 7 by Melane Conyers-Ausbrooks, Secretary of the Board.
Summary: The NCUA Board (Board) is publishing this proposed rule to amend its regulations governing requirements for share insurance. This proposed rule would eliminate numerous provisions that merely point to substantive provisions codified elsewhere in the NCUA's regulations. The intended effect is to simplify the regulatory text and make it easier to navigate without altering the compliance obligations of federally insured credit unions. The Board believes this action is necessary to streamline the ag...