Search
 

Final Member Access Rule Better After Industry Input, NCUA Board Says

The NCUA Board today approved a final rule regarding federal credit union member access to accounting books and records that retained much of the proposal but got a few tweaks to make it more balanced.

By Sarah Snell Cooke | Updated on September 27, 2007

ALEXANDRIA, Va. — The NCUA Board today approved a final rule regarding federal credit union member access to accounting books and records that retained much of the proposal but got a few tweaks to make it more balanced.

NCUA’s proposal drew a wide range of comments from the credit union community from those adamantly supporting it to removing it from the drawing board completely. Those comments were incorporated into the final rule which maintains the main pieces of the proposal with some tweaking. For example, the maximum signatures needed on a petition was increased from 250 to 500 based on 1% of the membership; what members can have access to is more clearly defined; and guidance is included in the preamble for regional directors in handling disputes.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Recommended Stories

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2024 ALM Global, LLC. All Rights Reserved.