NCUA Asks For Items In Regulatory Relief Bill

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NCUA representatives are scheduled to meet this week with representatives of the other financial regulators and congressional staffers to begin drafting a regulatory relief bill. Industry lobbyists are also scheduled to meet separately with Hill staffers on the measure.

NCUA sent a short list to the committee last summer with regulatory relief recommendations, including: easing the way to allow credit unions to provide check cashing and money transfer services to potential members; elimination of the 12-year maturity limit on loans; scrapping of the 1% limit on investments in CUSOs; expansion of credit unions' investment options; and striking the "reasonable proximity" restrictions on field of membership (FOM).

Credit Union Journal Washington Bureau Chief Ed Roberts can be reached at (202) 434-0334, or robertscuj

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