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Comments due: NCUA (proposed rule; extension of prompt corrective action relief under COVID-19)

June 18

The National Credit Union Administration (NCUA) Board invites comments on an interim final rule temporarily reducing the earnings retention requirement for credit unions classified as adequately capitalized; and permitting an undercapitalized credit union to submit a streamlined net worth restoration plan if it becomes undercapitalized predominantly because of share growth during the coronavirus crisis. The rule is substantially similar to an interim final rule that the Board published on May 28, 2020.

Reg lookup: Temporary Regulatory Relief in Response to COVID-19 – Prompt Corrective Action

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Date:
June 18
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