NCUA To Change Rules On UnderservedExpansions

ALEXANDRIA, Va. - (05/19/06) – The NCUA Board is expected nextweek to vote new limits on its underserved expansions rules,restricting the focus of the agency’s Access Across Americaprogram to only multiple-group credit unions. The new rule,necessitated by a court challenge by the American BankersAssociation, is expected to hold harmless more than 200 underservedexpansions granted for community-chartered credit unions, inapparent violation of the law. Those credit unions have investedmillions of dollars to build branches and other facilities inunderserved communities awarded them by NCUA before the ABA’slegal challenge.