The banking lobby has been making noise lately about the NCUA's recent field of membership proposal. No big surprise there. As with their constant badgering about the 80-year-old federal credit union tax exemption, bankers complaining about credit union FOM rules is as certain as death and taxes – and about as creative.
The banking lobby would have you believe that the NCUA's most recent proposal to amend FOM rules goes well beyond what the statute allows. It is the same tired argument they have used for years.
The problem with their argument is they are flat out wrong and they know it.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
