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NEW NCUA proposes 30M as small CU definition
ALEXANDRIA, Va. (9/20/12, UPDATED 10:50 a.m. ET)—The National Credit Union Administration (NCUA) this morning proposed to triple the asset test that defines a "small" credit union—to $30 million in assets, up from the current $10 million.

Regulatory burden is an issue for credit unions of all sizes, but NCUA Director of Examinations and Insurance Larry Fazio has noted that regulatory burdens can be exponentially more difficult for small credit unions to deal with, since they must comply with essentially all the same regulations as larger credit unions.

When making regulatory changes, the NCUA takes a special look at how a rule change will impact small credit unions, and so the new definition will gather more credit unions under the umbrella.

Also, this morning the NCUA issued a proposal that would allow credit unions to invest in Treasury Inflation Protection Securities (TIPS), another topic that was highlighted in the NCUA 2012 'listening sessions." TIPS are government-issued securities that are repriced to reflect inflation and deflation, while the adjusted or original principal is paid at maturity.

Also on today's open board meeting agenda:

  • A proposed rule that would expand the agency's definition of "rural district" for fields of membership; and
  • An Advanced Notice of Proposed Rulemaking related to payday-alternative loan regulations.
See tomorrow's News Now for full coverage.

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