Federal Register - Credit Unions Proposals

Refund of Interest

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The brief below is a reading aid. The original source material and source link remain the governing reference.

Operational Brief

• The NCUA Board proposes to rescind a regulation regarding the refund of interest to members as it is deemed redundant. • This proposal reiterates existing authority granted by the Federal Credit Union Act section 113(9).

Why It Matters for Texas Credit Unions

The article does not explicitly mention Texas, TCUD, or any Texas-specific entities. It is a general federal proposal that applies to all credit unions.

Who this most likely affects

Bounded site guidance: This item is most likely relevant for boards, executive leadership, and governance owners.

Why this fit: The source language points to governance, management, or supervisory posture rather than a narrow line function.

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Original Source Material

The NCUA Board (Board) is issuing for public comment a proposal to rescind its regulation that addresses the refund of interest to members. This regulation is redundant, as it restates the authority already granted to a federal credit union's (FCU's) board of directors by the Federal Credit Union Act (FCU Act) section 113(9).