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News Now

Washington
Regulators to discuss corp. stabilization today
WASHINGTON (6/18/09)--One of the top items up for discussion at today’s meeting of the National Credit Union Administration (NCUA) is the recently passed corporate credit union stabilization plan, which increases the NCUA’s borrowing authority to $6 billion and will allow credit unions to spread their National Credit Union Share Insurance Fund (NCUSIF) replenishment charges over an eight-year period. The board will also discuss how credit unions that have already expensed their NCUSIF costs can recover or reverse those expenses. A final rule on operating fees and an interim rule on exceptions to the maturity limit on second mortgages are also topics for today’s board meeting. Credit unions may register for this event on the NCUA Web site beginning on June 19. The NCUA will discuss the corporate stabilization issues in an interactive webinar, and credit union representatives who wish to participate may register through the NCUA Web site starting on June 19. The seminar, which is scheduled for 1 pm on June 24, will begin one hour after the Credit Union National Association’s (CUNA) Americas Credit Union Conference & Expo ends, and CUNA will stream the webinar live for all attendees who wish to take part in the discussion.


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