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NCUA Board announces approvals
The National Credit Union Administration Board has announced it has unanimously approved:
- a proposed rule to permit low-income-designated credit unions, complex credit unions, and newly chartered federal credit unions to issue subordinated debt.
- a proposed rule that provides greater clarity on the regulations governing transactions where a federally insured credit union proposes to assume liabilities from or merge with another institution that is not a credit union.
- the 2020 Annual Performance Plan, which outlines the strategies and initiatives the NCUA will use to achieve the performance measures and outcomes described in the 2018–2022 Strategic Plan.
- an extension of the current 18-percent interest ceiling on most federal credit union loans until September 2021.