Mark the calendar: The NCUA aims to turn off the lights at the conserved U.S. Central Bridge no later than Dec. 31, 2012, and now it has announced the specifics of its plan.
Included is a big stick to motivate corporates and credit unions to make new arrangements. Effective July 1, 2012, ACH fees will jump 80% for corporates and credit unions still making use of U.S. Central Bridge.
Long before then–no later than Feb. 24–NCUA wants U.S. Central Bridge members to have filed a written plan and timeline for exiting the bridge.
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