NCUA Board members are scheduled to receive a public briefing about a rules change that would let low income credit unions borrow money through the Troubled Assets Relief Program at next Thursday's NCUA Board Meeting.
On Tuesday, board members sent the rules out for a 30-day public comment period on a notational vote after having been briefed privately.
The Obama Administration has authorized credit unions that have been recognized as community development financial institutions by the U.S. Treasury Department's CDFI Fund to apply for up to 3.5% of their total assets in capital from TARP funds. The NCUA's rule change paves the way for federally insured credit unions to participate in the program.
Continue Reading for Free
Register and gain access to:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 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.
