Corporate Credit Unions
|Subject:||Corporate credit unions|
The NCUA Board (Board) is seeking comment on a proposed rule that would amend the NCUA’s corporate credit union regulation. The proposed rule would update, clarify, and simplify several provisions of the NCUA’s corporate credit union regulation, including: Permitting a corporate credit union to make a minimal investment in a credit union service organization (CUSO) without the CUSO being classified as a corporate CUSO under the NCUA’s rules; expanding the categories of senior staff positions at member credit unions eligible to serve on a corporate credit union’s board; amending the minimum experience and independence requirement for a corporate credit union’s enterprise risk management expert; and requiring a corporate credit union to deduct certain investments in subordinated debt instruments issued by natural person credit unions.
|FR Doc:||2020-03837; 2020-07159 (comment deadline extended); 2020-07159 (correction of comment deadline extension)|
|Date proposed:||March 27, 2020|
|Comments due date:||July 27, 2020|
|Rule compliance date:|
|Related Reg Report item(s):|