Federal Register - Credit Unions Proposals

Requirements for Insurance

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AI Summary

The NCUA Board proposes amendments to reduce regulatory burden by eliminating unnecessary requirements related to disclosing nonmember account coverage. The proposal applies to all federally insured credit unions, including those in Texas.

Texas Relevance

The article does not explicitly mention Texas or any Texas-specific entities and the changes apply nationwide.

Original Content

The NCUA Board (Board) is issuing for public comment a proposal to amend the NCUA's regulations that establish the requirements for obtaining and maintaining federal share insurance with the National Credit Union Share Insurance Fund (Share Insurance Fund). The provisions of this part apply to all federally insured credit unions (FICUs). The proposal would reduce regulatory burden by eliminating unnecessary and redundant requirements related to disclosing when nonmember accounts are not covered by federal share insurance.