ALEXANDRIA, Va. (3/13/08)—The National Credit Union Administration (NCUA) released a one-item agenda for its open board meeting next Thursday. The agency will consider issuing guidance on prohibition orders barring an individual from working with a federally insured credit union. The agenda item reads:
* Proposed Rule: Interpretive Ruling and Policy Statement (IRPS) 08-1, Guidance Regarding Prohibitions Imposed by Section 205(d) of the Federal Credit Union Act.
Under that section of the FCUA, any persons convicted of a crime involving dishonesty or breach of trust is prohibited from working for or with a federally insured credit union.