CUNA Seeks Comments on NCUA's "Small Entity" Proposal
The Credit Union National Association (CUNA) continues to seek comments on the National Credit Union Administration's (NCUA) “small entity” proposal, and has also requested a 30-day extension of the comment period so that credit unions can provide more complete feedback and information. NCUA’s proposal would amend the agency’s definition of a "small entity," by increasing the asset threshold from $10 million to $30 million. The agency would revisit this threshold at least every three years. The proposed asset threshold of $30 million would also provide regulatory compliance relief for smaller credit unions under two regulations that reference the current "small entity" asset threshold of $10 million, under the risk-based net worth requirements and interest rate risk final rule. CUNA’s regulatory comment call on the proposal is available here.