Credit unions are anxiously anticipating the NCUA board's monthly meeting Nov. 19, thanks to a field of membership proposal on the agenda.
Federal credit unions are demanding FOM regulatory relief, and state regulators' ability to draft less restrictive rules has spurred a new flight away from the federal charter, as Vice Chairman Rick Metsger pointed out back in March. At the time, credit unions were converting to state charters at a three-to-one rate compared to conversions from state to federal.
Stakeholders will soon find out which restrictions the NCUA will lift within its legal authority. But will it be enough to level the playing field?
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