Suretyship and Guaranty; Segregated Deposit and Collateral
By National Credit Union Administration
AI Summary
The NCUA Board proposes removing segregated deposit and collateral requirements for FICUs acting as sureties and guarantors; this will provide greater flexibility in product design. FICUs would still be subject to other surety and guaranty agreement requirements.
Texas Relevance
The article does not explicitly mention Texas, TX, TCUD, or any Texas-specific entities.
Original Content
The NCUA Board (Board) seeks comment on a proposed rule to remove the segregated deposit and collateral requirements when a federally insured credit union (FICU) acts as a surety and guarantor. Removing this regulation will provide FICUs with greater flexibility to design products that meet member needs. FICUs would remain subject to the other requirements regarding surety and guaranty agreements.