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More Regulatory Exemptions for Credit Unions

WWR ARTICLE
NOVEMBER 30, 2001

 

MORE REGULATORY EXEMPTIONS FOR CREDIT UNIONS

Effective March 1, 2002, certain healthy credit unions will be exempt from a range of federal regulations under a RegFlex program published by the National Credit Union Adminstration (NCUA) as a final rule on November 23. Under this program, credit unions that have received a CAMEL 1 or 2 rating for two consecutive examinations, have a net worth ratio of 9 percent or more, and are well-capitalized under the NCUA's prompt corrective action regulations, will automatically be exempt from certain regulations.






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