SW&M Comments on NCUA’s Associational Common Bond Rule

By Styskal, Wiese & Melchione

On June 17, 2014, our office responded to the NCUA’s request for comments concerning its Proposed Rule Regarding Associational Common Bond Field of Membership requirements for Federal Credit Unions.  Our comments can be found on the NCUA’s website here.

SW&M commented on the potential application of “quality assurance reviews,” the potential for ambiguity in the Proposed Rule to result in inconsistent application and overreaching, and aspects of the Associational Common Bond rules and rules regarding “service areas” which result in FOM rules not applying to a number of ways modern associations are organized.

Subscribe for Updates

Want the latest news and insights from the world of financial institutions delivered directly to your inbox? Enter your information below to be notified by email whenever SWM Lessons is updated.

  • This field is for validation purposes and should be left unchanged.
Search the Blog
Want to Learn more?

Reach out today to discover how we can help.