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NCUA to vote on insurance signage rule
ALEXANDRIA, Va. (2/20/09)--The National Credit Union Administration (NCUA) is expected to vote at a board meeting Thursday on a final rule that would change how credit unions display their insurance coverage signs. NCUA was scheduled to vote on the rule at last month’s meeting, but it was pulled from the agenda to reflect President Barack Obama’s halt to implement pending regulations under the Bush administration during its last days. The rule would require that credit unions change their insurance signs to reflect the temporary increase Congress approved in October to insure credit union deposits. The increase, which insures deposits up to $250,000 from $100,000, is effective until Dec. 31. The rule, if adopted, is expected to give credit unions more flexibility in advertisements. NCUA also is scheduled to discuss the status of the National Credit Union Share Insurance Fund and a proposed rule regarding the operating fee calculation for natural person federal credit unions. For more information, use the link.
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