NASCUS COMMENDS THE NCUA BOARD FOR EXTENDING THE COMMENT PERIOD FOR THE COMBINATION TRANSACTIONS RULE

March 30, 2020

NASCUS COMMENDS THE NCUA BOARD FOR EXTENDING THE COMMENT PERIOD FOR THE COMBINATION TRANSACTIONS RULE

ARLINGTON, Va. – On Friday, March 28, the NCUA Board voted unanimously to extend the comment period for the proposed Combination Transactions Rule by 60 days.

NASCUS President and CEO Lucy Ito issued the following statements in response to the Board’s extension.

“NASCUS appreciates the NCUA Board heeding our recommendation and extending the comment period for the proposed Combination Transaction Rule. The Board’s extension enables State Supervisory Agencies, credit unions, state leagues and other stakeholders–within and outside the credit union system–to focus on their respective responses to the COVID-19 pandemic. The proposed rule would impact the business decisions of federally insured credit unions and we commend the Board for granting commenters additional time to  properly deliberate on such consequential rulemaking.”

Information Contact:

Shelton Roulhac, Vice President, Communications, sroulhac@nascus.org  or (703) 528-5974

NASCUS is the national association that advocates for a strong and healthy state credit union system, and whose members include state regulatory agencies, credit unions, credit union leagues, and organizations that support the state credit union system.