SAN DIEGO - Federal regulators are backing off a proposal to clamp down on corporate credit unions, reacting to fierce criticism of plans to restrict the liquidity centers' investments and increase their capital requirements.

Although comments on the original proposal are not due until Aug. 25, National Credit Union Administration Chairman Norman E. D'Amours told an industry meeting here that a revised proposal will be released for another round of comments this fall.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.