Chartering and Field of Membership for Federal Credit Unions-Interpretive Rulings and Policy Statements
By National Credit Union Administration
AI Summary
• NCUA proposes to rescind IRPS 06-1, which would reduce the number of sources FCUs need to check for chartering and FOM compliance.
• This change aims to ease compliance burdens on Federal credit unions.
Texas Relevance
The article does not explicitly mention Texas, TX, TCUD, or any Texas-specific entities. It is a general federal proposal applicable to all FCUs.
Original Content
The NCUA Board proposes to rescind its Interpretative Ruling and Policy Statement 06-1 (IRPS 06-1). Rescinding IRPS 06-1 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.