Chartering and Field of Membership for Federal Credit Unions-Interpretive Rulings and Policy Statements
By National Credit Union Administration
AI Summary
The NCUA Board proposes to rescind IRPS 10-1, which amends IRPS 08-2. This change would ease compliance for federal credit unions by reducing the number of sources they need to check for chartering and field of membership requirements.
Texas Relevance
The article does not mention Texas, TCUD, or any Texas-specific entities. It is a general federal proposal applicable nationwide.
Original Content
The NCUA Board (Board) proposes to rescind its Interpretative Ruling and Policy Statement 10-1 (IRPS 10-1), which was issued as an amendment to IRPS 08-2. Rescinding IRPS 10-1 would ease the compliance burden on federal credit unions (FCUs) by limiting the number of sources that FCUs must check to ensure compliance with applicable chartering and field of membership (FOM) requirements.