Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
NCUA wants input on guidance to bar convicts at CUs
ALEXANDRIA, Va. (3/21/08)—-The National Credit Union Administration (NCUA) Board during its monthly meeting Thursday issued for a 60-day comment period proposed guidance on prohibition orders barring an individual from working with a federally insured credit union. The NCUA Board issued proposed Interpretive Ruling and Policy Statement (IRPS) No. 08-1, Guidance Regarding Prohibitions Imposed by Section 205(d) of the Federal Credit Union Act. The statute prohibits “a person who has been convicted or legally connected with prosecution of a criminal offense involving dishonesty or breach of trust from working or being affiliated with an insured credit union, except with prior written consent from the NCUA Board,” said the agency. NCUA said it has not previously published policies or regulations concerning Section 205(d) and recently became aware of several employees working at credit unions in violation of this prohibition. The three NCUA Board members voted unanimously in favor of the measure. Visit CUNA’s website for more information.


RSS print
News Now LiveWire
Wyo #creditunion membership ~40%, just another part of #100MM @mwcua See #NewsNow http://t.co/ZtGRRdOcL5
38 minutes ago
.@CUNA chief @HampelBill accepts chilly charity #IceBucketChallenge http://t.co/8sKot5tiih
47 minutes ago
.@CUNA's @HampelBill takes #IceBucketChallenge See #Newsnow for who he challenged http://t.co/RiejgSjywL http://t.co/joaI4qd1Tq
2 hours ago
#creditunions must look outside narrow window of products for revenue growth: Filene #NewsNow http://t.co/14HPutjBFy
2 hours ago
In just over a year, @SaveToWinWA generates more than $1M of savings in 6 #creditunions http://t.co/rszMd0SZVv
17 hours ago