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News Now

Washington
NEW NCUA to vote on prepay plan next week
ALEXANDRIA, Va. (6/23/11 UPDATED 3:00 p.m. ET)--The National Credit Union Adminstration (NCUA) just announced a special open meeting for next Wednesday, June 29, to consider its plan to allow credit unions, on a voluntary basis, to prepay their Corporate Stabilization Fund assessment. The NCUA proposed the prepayment plan at its May open board meeting and the public comment period ended June 20. CUNA has anticipated that, if the plan is approved, the NCUA will likely give credit union approximately 40 days after that to tell the agency whether or not they will commit any funds to the plan. CUNA has made recommendations to improve the complex prepayment plan, but has said overall it could help reduce credit unions' assessment for 2011 substantially, depending on credit unions' participation, and it would help even out assessments for subsequent years. Also expected on Wednesday: The federal Reserve Board has said it will vote on a final rule to set a debit card interchange fee cap that day.


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