Accuracy of Advertising and Notice of Insured Status
By National Credit Union Administration
AI Summary
• The NCUA Board proposes to eliminate provisions concerning the official advertising statement to streamline regulations.
• This action aims to reduce administrative burden and costs for federally insured credit unions while providing greater flexibility in their advertising activities.
Texas Relevance
The article does not explicitly mention Texas, TCUD, or any Texas-specific entities. The proposed rule applies to all FICUs nationwide.
Original Content
The NCUA Board (Board) is issuing this proposed rule to streamline its regulations governing advertising and the notice of insured status. This proposed rule would eliminate provisions concerning the official advertising statement. This action is undertaken to reduce regulatory complexity, and the intended effect is to reduce the administrative burden and costs for federally insured credit unions (FICUs) and provide them with greater flexibility in their advertising activities. The proposed rule would not amend requirements related to displaying the official sign.