LAS VEGAS — NCUA Chairman Debbie Matz announced July 23 the agency plans to propose a rule that would eliminate the 5% cap on fixed assets at the July 31 board meeting.
"The proposal would cut the red tape and streamline the process for federal credit unions to occupy land or buildings. Our intent is to allow federal credit unions to manage their own fixed-asset purchases without having to seek permission or waivers from NCUA," Matz said in her prepared remarks for NAFCU's Annual Conference.
"When you want to update your facilities, upgrade technology, or make other purchases that have no impact on safety and soundness, NCUA should not micro-manage your individual business decisions," she said.
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