Notice of Termination of Excess Insurance Coverage

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AI Summary

The NCUA Board proposes to amend regulations regarding the timing of prior notice for terminating excess non-federal insurance coverage. This aims to reduce regulatory burden on federally insured credit unions (FICUs).

Texas Relevance

The article does not explicitly mention Texas, TX, TCUD, or any Texas-specific entities.

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 amending the provision on the timing of prior notice provided to members of the termination of excess non-federal insurance coverage.