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Comments on OTR listed as April 26 deadline nears

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NASCUS is the only organization exclusively dedicated to defending and advancing a strong state credit union system. Established in 1965, state credit union regulators formed NASCUS to promote the safety and soundness of state-chartered credit unions.

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39 Comment Letters Criticize OTR Methodology
May 3, 2016 -- As of today, NCUA has posted 39 letters filed in response to its notice for comments on its Overhead Transfer Rate (OTR) Methodology. The letters, 14 from credit unions, 7 from state regulatory agencies, 12 from credit union leagues, and 6 from associations, other organizations and individuals, cited the current OTR Methodology’s inequitable treatment of state chartered credit unions and urged NCUA to reconsider its approach. Many of the comments filed echoed the comprehensive letter filed by NASCUS questioning the rationale behind the ever-increasing allocation of costs to the National Credit Union Share Insurance Fund. READ

NASCUS Congratulates Chairman Metsger

May 2, 2016 -- NASCUS has enjoyed a productive working relationship with Rick Metsger as NCUA Vice Chairman, and look forward to that continuing with Mr. Metsger as NCUA Chairman. With the announcement today of the President’s decision to name Mr. Metsger Chairman, we are confident that Chairman Metsger and Board Member McWatters will work together to provide leadership for the credit union system and continue the regulatory review and relief initiatives underway at NCUA.  Both Chairman Metsger and Board Member McWatters have consistently expressed their support for a robust dual charter system. READ

NASCUS Report for April 29 published/online
April 29, 2016 -- Fixes to OTR recommended, commenters in harmony, thanks to Chairman Matz, CECL, BSA -- and more. READ

NASCUS: Flawed OTR threatens dual-chartering system
April 26, 2016 -- The methodology for NCUA’s overhead transfer rate (OTR) is “is severely flawed,” in that it is arbitrary, capricious, and inequitable to federally insured, state chartered credit unions, NASCUS wrote in its comment letter on the methodology to NCUA today. READ

 

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