The NCUA has set an ambitious agenda for its July 24 open board meeting that includes a proposed rule, the 2012 corporate assessment and five other items.
The proposed rule involves Section 701.14 of NCUA's Rules and Regulations, involving the definition of a "troubled condition" credit union.
The current rule requires a credit union that is in troubled condition to report any changes in its board of directors, committee members, or senior executive officers to NCUA 30 days prior to the change. The rule was the subject of an appeal during a closed board meeting in May of this year.
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