On May 30, 2018, the National Credit Union Administration (NCUA) published a final rule to amend part 709 of its regulations governing claims administration for federally insured credit unions that enter involuntary liquidation. The final rule clarifies application of the NCUA's golden parachute rule to severance payouts for employees of liquidated credit unions, and amends the current rule's payout priority provision by specifying when severance pay may be allowed as a provable claim in liquidation.
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