NCUA issues ninth round of deregulatory proposals

On April 7, the NCUA announced a proposed rule to amend its chartering and field of membership regulations under Appendix B to 12 CFR 701, as part of its ongoing “Deregulation Project” (previously covered by InfoBytes here). The proposed rule would remove the automatic disqualification of associational groups that require the purchase of a product or service as a condition of membership. Under current rules, such a requirement can indicate a client-customer relationship, which automatically... By: Orrick, Herrington & Sutcliffe LLP