NCUA Issues Proposed Rule to Eliminate Fixed Assets Cap

At yesterday’s meeting, the NCUA board voted unanimously to approve a proposed rule to eliminate the 5% cap on investments a federal credit union can make in fixed assets.  The proposed rule also eliminates the 30-month partial occupancy waiver process in favor of just a 6-year occupancy rule.  Comments will be due within 30 days of publication in the Federal Register. [3/20/15]