posted by Sharon Bahr
on Mon, 09/24/2012 - 3:29pm
The National Credit Union Administration board meeting was held on Thursday, September 20, 2012. The meeting was confined to positive actions, and the key points from the meeting are:
New investment authority for federal credit unions to purchase Treasury Inflation Protected Securities (TIPS) was proposed for a sixty-day comment period;
The definition of a small credit union would be increased to $30 million from $10 million in assets under a proposal open for comments for thirty days;
The definition of “rural district” for federal credit union field of membership purposes would be increased to the greater of 200,000 or three percent of the state’s population; and
The agency is seeking responses for 60 days under an advance notice regarding additional flexibility for federal credit unions to offer payday-alternative loans.
Click here to access the complete board summary of the meeting.
NCUA Board Member Gigi Hyland announced her departure from the agency; October 5 will be her last day. Her assistant, Gary Kohn, had already left NCUA.