ALEXANDRIA, Va.–The NCUA Board will consider a final rule on Sept. 27 regarding member access to books and records.
The proposed regulation caused some controversy as some proponents of transparency, particularly in the area of credit union conversions to mutual savings banks, tried to way the benefits of member access against the potential for troublemakers to obtain information in order to cause problems for the credit union.
Additionally, NCUA will consider community charter requests, somewhat rate since the November 2005 American Bankers Association lawsuits, for Consolidated FCU and Connects FCU; generally speaking, only the largest community charters require board approval.
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A closed board meeting will follow the open one. At that meeting, two corporate credit union merger applications will be considered. Additionally, an appeal under the rules regarding changes in officials for new or troubled credit unions and those concerning administrative actions and investigations is scheduled.
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