The National Credit Union Administration (NCUA) is facing staunch criticism over its newly proposed rule which would permit federally-insured credit unions (FCUs) to receive up to half of their deposits come from other credit unions and government entities, a significant uptick from the current 20 percent cap.
The American Bankers Association (ABA) called the proposal “deeply troubling,” given that the cap was put in place to stem issues with oversight that led to taxpayer-funded losses.
Find out more details about the proposal.