NCUA delaying acquisition proposal comment deadline

Mar 30, 2020

The National Credit Union Administration is delaying the comment deadline on its proposed rule to provide more transparency and disclosures when credit unions acquire bank assets, ICBA has learned. The comment deadline, originally scheduled for today, is being extended 60 days due to the coronavirus outbreak.

In a news release after the proposal was issued, ICBA called on the NCUA and other policymakers to expand on it to address the growing trend of large credit unions using their taxpayer-funded subsidies to acquire smaller, tax-paying community banks.