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.