Comment Letter Due: Federal Credit Union Bylaws Relating to Expulsion of a Member

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Comment Letter Due: Federal Credit Union Bylaws Relating to Expulsion of a Member

December 2 @ 4:00 pm - 5:00 pm

NCUA Proposed Rule Summary: Federal Credit Union Bylaws Relating to Expulsion of a Member

Read NASCUS Legislative and Regulatory Affairs Department Summary Here
September 27, 2022

During the September 22, 2022, NCUA Board Meeting, the Board approved for publication and comment a proposed rule providing bylaw amendments that would allow additional authority for FCUs in the expulsion of members for cause.  The proposed rule seeks to incorporate legislative changes resulting from the March 15, 2022, effective Credit Union Governance Modernization Act of 2022 (Governance Modernization Act) which ordered NCUA to develop policy by which a FCU member may be expelled by a two-thirds vote of a quorum of the FCU’s board of directors.

The deadline to submit a comment is December 2nd, 2022. The proposed rule may be read in its entirety here.

Details

Date:
December 2
Time:
4:00 pm - 5:00 pm
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