Federal Register - Credit UnionsProposalsTexas Relevant
Suretyship and Guaranty; Segregated Deposit and Collateral
By National Credit Union Administration
Summary
- The NCUA Board proposes removing segregated deposit and collateral requirements for FICUs acting as sureties and guarantors.
- This change aims to increase flexibility in product design while maintaining other surety and guaranty agreement requirements.
Why It Matters for Texas Credit Unions
The proposal directly affects Texas credit unions, which are subject to NCUA regulations.
Original Source Material
The NCUA Board (Board) seeks comment on a proposed rule to remove the segregated deposit and collateral requirements when a federally insured credit union (FICU) acts as a surety and guarantor. Removing this regulation will provide FICUs with greater flexibility to design products that meet member needs. FICUs would remain subject to the other requirements regarding surety and guaranty agreements.