Carpe Diem! The NCUA deadline for comment on bailout funds merger is here

first_img 7SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr NCUA headquarters The NCUA has given credit unions a rare opportunity to let the regulator know what they think about its plans for the system’s money.The NCUA proposes to merge the Temporary Corporate Credit Union Stabilization Fund into the National Credit Union Share Insurance Fund and is accepting comments through Tuesday, Sept. 5.Although the merger idea on the surface is a good one, the devil is in the details.The regulator proposes to hold back from credit unions perhaps $1.8 billion of the $2.2 billion to $2.4 billion the corporate bailout fund would be worth at that point.NCUA staff says that would be prudent, protecting the share fund against the liabilities it would take on from the corporate credit union bailout fund. continue reading »last_img

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