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NCUA Offers Glimpse into Regulatory Future

ALEXANDRIA, Va.-In a regular posting in the Federal Register, NCUA provided a peek into what is in store on the regulatory side for the remainder of the year.

By Staff Writer | Updated on May 16, 2006

ALEXANDRIA, Va.-In a regular posting in the Federal Register, NCUA provided a peek into what is in store on the regulatory side for the remainder of the year.

NCUA expects to issue its final rule on service to underserved areas in response to litigation by the American Bankers Association at the May 25 board meeting. The proposed regulation would bar non-multiple common bond credit unions from adopting underserved areas in the future and require the credit union to locate a service facility within each area adopted. However, the ABA and other banking groups want the ban to apply retroactively, which the credit union community has opposed.

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