Federal Register - Credit UnionsProposalsTexas Relevant
Post-Election Training for New Board Members
By National Credit Union Administration
Summary
- NCUA proposes eliminating the requirement for new directors of FCUs to attain a working familiarity with finance and accounting within 6 months.
- The Board believes this regulation is unnecessarily prescriptive.
Why It Matters for Texas Credit Unions
This proposal, if adopted, would affect all credit unions in Texas, including those that are federal credit unions (FCUs).
Original Source Material
The NCUA Board (Board) solicits public comment on a proposal to eliminate the regulatory requirement that each director of a federal credit union (FCU) attain a working familiarity with finance and accounting within 6 months after election or appointment. The Board believes the regulation is unnecessarily prescriptive.