Removing Barriers Blog

NCUA Extends Comment Period for Corporate Rule
Posted April 02, 2020 by CUNA Advocacy

The NCUA has extended the comment period for their proposed rule on corporate credit unions by 60 days. 

The corporate credit union proposed rule is meant to clarify and update certain provisions in the NCUA’s regulations. These changes include: 

  • Permitting a corporate credit union to make a minimal investment in a credit union service organization without that organization being classified as a corporate CUSO and subject to heightened NCUA oversight;
  • Expanding the categories of senior staff positions at member credit unions who would be eligible to serve on the corporate credit union’s board;
  • Amending the prescriptive experience and independence requirements for a corporate credit union’s enterprise risk management expert
  • Clarifying the treatment of an investment in a subordinated debt instrument of a natural-person credit union.