NATIONAL CREDIT UNION ADMINISTRATION ISSUES RULE: CREDIT UNION SERVICE CONTRACTS

WASHINGTON, Aug. 6 -- National Credit Union Administration has issued a rule called: Credit Union Service Contracts.

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 revising its regulations governing the organization and operation of federal credit unions (FCUs) by eliminating a provision related to credit union service contracts. The Board intends to reduce administrative costs and compliance complexity with this revision, enabling FCUs to serve their members more efficiently.

For more information, contact Rachel Ackmann, Senior Attorney, Office of General Counsel, at 703/518-6540 or at 1775 Duke Street, Alexandria, VA 22314.

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