Federal Credit Union Bylaws

October 3, 2022 NCUA, Regulation lookup 0

Title: Federal Credit Union Bylaws
Subject: Member expulsion
Agency: NCUA
Status:
Proposed rule
Summary:

On March 15, 2022, Congress enacted the Credit Union Governance Modernization Act of 2022 (Governance Modernization Act). Under the statute, the NCUA has 18 months following the date of enactment to develop a policy by which a federal credit union (FCU) member may be expelled for cause by a two-thirds vote of a quorum of the FCU’s board of directors. The NCUA Board (Board) is now proposing to amend the standard FCU bylaws (FCU Bylaws) to adopt such a policy.
FR Doc:

2022-20927
Date proposed: Sept. 22, 2022
Comments due date: Dec. 2, 2022
Effective date:

Rule compliance date:
Agency release:
Related Reg Report item(s):

Comments due Dec. 2 on credit union member expulsion proposal