NCUA board finalizes corp. CU rule, issues derivatives proposal

The NCUA board finalized its corporate credit union rule and proposed a new rule on derivatives at its Thursday meeting. Detailed coverage of the meeting can be found on CUNA’s Removing Barriers Blog.

The corporate credit union final rule amends updates, clarifies, and simplifies several provisions of the corporate credit union regulation.

These include:

• Permitting a corporate credit union to make a minimal investment in a CUSO without the CUSO being classified as a corporate CUSO under the NCUA’s rules;
• Expanding the categories of senior staff positions at member credit unions eligible to serve on a corporate credit union’s board; and

 

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