The NCUA's plan to eliminate the 5% cap on fixed assets would provide regulatory relief for federal credit unions, Board Member Rick Metsger said.
Under the proposed rule approved at the agency's July 31 board meeting, credit unions would be required to put together a fixed-asset management plan instead of going through the existing waiver process.
"We thought rather than you (credit unions) coming to us and us going back and forth spending a lot of time approving something, perhaps it's better to allow credit unions to develop their own fixed-asset policy and manage their own assets as they see best," Metsger said.
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