Corporate Rule Back On Tap
ALEXANDRIA, Va. – The long-awaited overhaul of NCUA’s corporate regulation, expected next week, is expected to usher in a consolidation of the corporate network.
The NCUA Board has rescheduled until next Friday afternoon a vote on the corporate rule and release of plans to sell as much as $50 billion in toxic assets held by the corporates.
The corporate rule will set new standards for corporate capital, investments and corporate governance, giving corporates as long as two years to meet new higher capital standards. The rule also is expected to spur a consolidation of the corporate network, which consists of U.S. Central FCU and its 27 corporate members.