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Comments due: NCUA (chartering and field of membership)
December 9, 2019
The National Credit Union Administration (NCUA) Board is proposing to amend its chartering and field-of-membership (FOM) rules with respect to applicants for a community charter approval, expansion, or conversion. Specifically, the board is proposing to re-adopt a provision to allow an applicant to designate a combined statistical area (CSA), or an individual, contiguous portion of one, as a well-defined local community (WDLC) if it has a population of 2.5 million or less. Separately, in accordance with an August 2019 opinion and order issued by the D.C. Circuit Court of Appeals with respect to communities based on a core-based statistical area (CBSA) or a portion of one, the board is providing further explanation and support for its elimination of the requirement to serve the CBSA’s core area as provided for in a 2016 rulemaking. The proposal is also intended to clarify existing requirements and add an explicit provision to its rules to address concerns about potential discrimination in the FOM selection for CSAs and CBSAs. Federal Register notice