NCUA board proposes rule on member expulsion

Board also proposes amendments to subordinated debt rule to facilitate MDI and CDFI use of the Emergency Capital Investment Program

The National Credit Union Administration Board held its first in-person open board meeting since the COVID-19 pandemic began, and its eighth open meeting of 2022, which included a live webcast, and unanimously approved two items:

• A notice of proposed rulemaking on Federal Credit Union Bylaws, Member Expulsion.
• A notice of proposed rulemaking on subordinated debt.

In addition, the NCUA board received a briefing on the performance of the National Credit Union Share Insurance Fund during the second quarter of 2022. As part of the board’s discussion on the Share Insurance Fund quarterly report, all three board members expressed strong support for a legislative change that would provide greater access to the Central Liquidity Facility.

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