Comment deadline on NCUA proposed rule

The National Credit Union Administration has published [80 FR 76747] a proposed rule that would comprehensively amend its chartering and field of membership rules to put them in a more efficient framework and to maximize access to federal credit union services to the extent permitted by law. The amendments would implement changes in policy affecting:

• the definition of a local community, a rural district, and an underserved area;
• the expansion of multiple common bond credit unions and members' proximity to them;
• the expansion of single common bond credit unions based on a trade, industry or profession; and
• the process for applying to charter or expand a federal credit union.

Comments on the proposal will be accepted through February 8, 2016.