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NCUA's board next Thursday will take up action on a final rule that will add 12 groups that would qualify for automatic inclusion in a federal credit union's field of membership, NCUA Director of Examination and Insurance Larry Fazio is telling lawmakers today.

The original proposal suggested seven groups; the final slated for board action next week adds another five. While NAFCU supported the automatic inclusion aspect of the 2014 proposal, it had serious concerns about its threshold determination measures.

Fazio is testifying in a House Financial Services Subcommittee on Financial Institutions and Consumer Credit hearing on regulatory burden, from the regulators' perspective.

NAFCU supports efforts to make field of membership rules more flexible for credit unions and will review the final rule, presuming it is issued next week, for its members.

Fazio also reiterates the agency's push for third-party vendor examination authority. NAFCU continues to strongly oppose such authority as costly and unnecessary and will continue to weigh in with lawmakers to urge against it.