While credit union mergers hit a new low at the end of the first half of the year, credit union executives are worried voluntary consolidations could slow down even more to the detriment of the industry if the NCUA board adopts new merger regulations proposed in May.
Although it is unknown when the NCUA board will make a decision on the proposed merger rules, the federal agency's staff completed reviewing more than 80 comment letters submitted by CEOs, state leagues, national trades and other professionals.
"The next step is to go back and look at the proposed rule to see whether and how changes could be made," John Fairbanks, NCUA's national affairs specialist said. "It is up to the staff to determine when the final version [of the proposed rule] is ready for the board's consideration."
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