FOM comments: Don’t wait for Feb. 8

NAFCU Director of Regulatory Affairs Alicia Nealon is urging credit unions to send NCUA their field-of-membership comment letters before the Feb. 8 due date. In a NAFCU’s Compliance Blog post today, she details the resources available to assist that effort.

NAFCU has talking points available to credit unions to help them put their comment letters together. It has also drafted individual letter templates for comments on the types of charters affected. There are also multiple posts on the NAFCU Compliance Blog detailing these (community, multiple-common bond and TIP charters).

“NAFCU believes NCUA’s proposal will help many credit unions reach more potential members who want and need affordable financial services, and I encourage you to write a comment letter to NCUA explaining how the proposal will provide much-needed relief to your credit union and membership,” Nealon writes.

The bankers continue their campaign against NCUA’s proposal. American Banker on Wednesday detailed the bankers’ claims about the proposal along with NAFCU’s input. “NAFCU members believe that the federal credit union charter must keep pace with changes in state laws, technology, and the progressiveness of the financial services industry,” NAFCU President and CEO Dan Berger told House and Senate leaders last week in a letter that was also quoted by American Banker.

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