NCUA Board to Meet Thursday, Oct. 19
Posted by John Trull on October 16, 2023
The Board is expected to issue two proposed rules covering the Simplification of Insurance Rules which is expected to cover insurance treatment for both revocable and irrevocable trusts. The proposed rule is also expected to cover the treatment of mortgage servicing account balances. The rule is expected to be similar to the recently adopted FDIC rules. In addition, the Board is expected to issue a rule that will allow credit unions to hire individuals with minor criminal convictions who are still eligible for bonding without having to seek NCUA Board approval. The final agenda item is a Cybersecurity briefing. As always, GoWest will provide a same-day analysis.