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NCUA proposals would expand federal credit unions’ membership reach
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Banking, Nonbank Financial
Tuesday, December 8, 2015
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The National Credit Union Administration Board unanimously approved a proposal to amend its chartering and field-of-membership rules. If approved, the rule will, among other things, expand federally chartered credit unions’ geographic areas. Although the goal is to ensure greater access to financial services provided by credit unions, Independent Community Bankers of America President and CEO Camden Fine warned that the rules will turn credit unions into “tax-free full commercial banks.”
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