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Federally Insured CUs Urged to Support NCUA Advertising Rule Proposal by Dec. 4
Thursday, November 30, 2017 7:00 AM

"Federally insured credit unions are urged to submit a comment letter supporting NCUA’s proposed revisions to its advertising rule. The proposal would provide regulatory relief," says Suzanne Yashewski, SVP regulatory compliance counsel for the Cornerstone Credit Union League. 

The NCUA Board proposed revising certain provisions of its advertising rule which requires federally insured credit unions (FICUs) to use the NCUA’s “official advertising statement” when advertising. In addition to being able to use any of the three current versions of the official advertising statement, the proposal would allow FICUs to use a fourth version by stating “Insured by NCUA.”

NCUA has also proposed to expand a current exemption from the advertising statement requirement regarding radio and television advertisements and to eliminate the requirement to include the official advertising statement on statements of condition required to be published by law.

Comments are due by Monday, Dec. 4, 2017, and should be addressed to regcomments@ncua.gov. Include “[Your Name] Comments on Notice of Proposed Rulemaking Regarding Accuracy of Advertising” in the email subject line.

Please also copy Suzanne at syashewski@cornerstoneleague.coop. A sample comment letter can be found here.

Questions? Email Suzanne Yashewski at the address above, or call her at 512-853-8516.