Today: NCUA reps review FOM trends in free NAFCU webcast
NCUA Division of Consumer Access Director Robert C. Leonard and NCUA Consumer Access – South Director Rita Woods will discuss the latest trends affecting credit unions’ fields of membership in a NAFCU webcast today at 2 p.m. Eastern.
NAFCU Director of Regulatory Affairs Alicia Nealon will moderate the discussion; attendees can send her questions in advance at email@example.com, or submit questions during the webcast.
The discussion will center on how credit unions can amend their charters to meet growth and viability needs and the recent updates to field of membership rules made by NCUA. In April, the NCUA Board issued a final rule amending procedures for adding associational groups to federal credit unions’ field of membership – with 12 types of groups automatically deemed suitable for inclusion.
Earlier this month, Nealon wrote NCUA to urge further streamlining of the process of applying for FOM expansions or conversions. She also urged the agency to remove non-statutory requirements imposing geographic- and population-based limitations on community charters. NAFCU will continue to monitor the issue and push for further credit union regulatory relief.continue reading »