League weighs in on combination transactions with non-credit unions

Published by: Emily Leite

May 14, 2020 | Education & Training, Government Affairs, Regulatory

Even though COVID-19 relief remains the Movement’s primary focus, regulatory advocacy has not taken a backseat. In March, the League provided comments to the NCUA’s proposed rule change concerning combination transactions with non-credit unions (RIN 3313–AF10). Specifically, we advocated for rulemaking that saves credit unions time and money, while shielding them from liability, through the following main points:

  • adding an approval process timeline to prevent any unnecessary transaction delays;
  • granting flexibility to dispose non-credit union assets following a complete transaction; and
  • providing membership options to non-credit union accountholders.

For additional details, please find the full comment letter or reach out to League Regulatory Counsel Chris Noble with questions or for more information.

CONTACT US

E: cnoble@ohiocul.org
T: (614) 923-9762
C: (614) 448-6237

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