Board Action Bulletin

Share Insurance Fund Posts $33.1 Million Web Ine in Very First Quarter

ALEXANDRIA, Va. (might 24, 2018) – The National Credit Union management Board held its fifth available meeting of 2018 at the agency’s head office today and unanimously authorized two products:

The main Financial Officer briefed the Board regarding the performance associated with nationwide Credit Union Share Insurance Fund, which posted a web ine of $33.1 million when you look at the quarter that is first mainly as a result of strong investment ine profits.

Brand Brand Brand New Payday Alternative Loan Would Offer Federal Credit Unions Second Item

Federal credit unions will have a payday that is second loan option under a proposed rule (component 701) authorized by the Board.

The proposed payday alternative loan choice will never change the existing payday alternative loan system (starts brand new window) , produced this season, but will be a definite item. The product might have features to aid credit that is federal meet certain requirements of certain cash advance borrowers which are not met because of the present system and supply those borrowers by having a safer, more affordable replacement for conventional pay day loans. (suite…)

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