Comments due: NCUA (proposed rule; federal credit union operating fees)
The National Credit Union Administration (NCUA) Board proposes to amend its regulation governing assessment of an annual operating fee to federal credit unions (FCUs). The proposed rule would exclude from the total assets upon which the fee is based any loan an FCU reports under the Small Business Administration’s Paycheck Protection Program (PPP) or similar future programs approved for exclusion by the NCUA Board; delete from the current regulation references to the Credit Union System Investment Program and the Credit Union Homeowners Affordability Relief Program, both of which no longer exist; and amend the period used for the calculation of an FCU’s total assets. Technical changes are also included.
Reg lookup: Fees Paid by Federal Credit Unions