WASHINGTON, Aug. 6 -- National Credit Union Administration has issued a rule called: Chartering and Field of Membership for Federal Credit Unions-Interpretive Ruling and Policy Statement 10-1.
The rule was published in the Federal Register on Aug. 6 by Melane Conyers-Ausbrooks, Secretary of the Board.
Summary: The NCUA Board (Board) is rescinding Interpretive Ruling and Policy Statement (IRPS) 10-1. The Chartering and Field of Membership Manual (Chartering Manual) incorporates NCUA's current chartering requirements for federal credit unions (FCUs), making IRPS 10-1 unnecessary. This rescission reduces the burden for FCUs by limiting the number of sources that they must check to verify compliance with applicable requirements. After conside...