NCUA Asks For Items In Regulatory Relief Bill

Register now

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 aol.com.

For reprint and licensing requests for this article, click here.
MORE FROM AMERICAN BANKER