Federal Credit Union Bylaws

July 26, 2023 NCUA, Regulation lookup 0

Title: Federal Credit Union Bylaws
Subject: Member expulsion
Agency: NCUA
Status:
Final rule
Summary:

On March 15, 2022, Congress enacted the Credit Union Governance Modernization Act of 2022 (Governance Modernization Act). Under the statute, the NCUA has 18 months following the date of enactment to develop a policy by which a Federal credit union (FCU) member may be expelled for cause by a two-thirds vote of a quorum of the FCU’s board of directors. The NCUA Board (Board) is issuing this final rule to amend the standard FCU bylaws (FCU Bylaws) to adopt such a policy.
FR Doc: 2023-15715
Date proposed:
Comments due date:
Effective date:

Aug. 25, 2023
Rule compliance date:
Agency release:
Related Reg Report item(s):

Final bylaws rule on member expulsion, mid-sesson budget slated for Thursday NCUA Board action