NATIONAL CREDIT UNION ADMINISTRATION ISSUES RULE: TERMINATION OF EXCESS INSURANCE COVERAGE

WASHINGTON, Aug. 6 -- National Credit Union Administration has issued a rule called: Termination of Excess Insurance Coverage.

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 amending its regulations that establish the requirements for obtaining and maintaining federal share insurance with the National Credit Union Share Insurance Fund (Share Insurance Fund). The provisions of this part apply to all federally insured credit unions (FICUs). This final rule will reduce regulatory burden by amending the provision on the timing of prior notice provided to members of the termination of excess non-federal insurance coverage.

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