The NCUA's proposed rules to increase transparency in credit union voluntary mergers may unnecessarily make the process even more complex than it currently is, credit union trade group officials are warning.
"It clearly adds a little more time and process," Andrew Price, CUNA's senior director of advocacy and counsel said following an initial review of the proposal, which the NCUA board released at its May meeting. And that extra time, including an additional 45 days, may not be needed, he added.
"There's a lot of unknowns about how this would work," said Carrie Hunt, NAFCU's EVP of government affairs and general counsel.
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