WASHINGTON — The NCUA is scheduled to unveil proposed changes to its rules on Prompt Corrective Action and on the definition of Post Merger Net Worth at its meeting next Thursday.
The proposals will be subject to a 60-day public comment before the final versions are issued.
The board is also scheduled to issue a policy statement clarifying the Federal Credit Union Act's prohibitions of a person convicted or legally connected with prosecution of a criminal offense involving dishonesty or breach of trust from working or being affiliated with an insured credit union, except with prior written consent from the NCUA Board.
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