Comments Due to NAFCU: Exceptions to Employment Restrictions Under Section 205(d) of the Federal Credit Union Act (“Second Chance IRPS”)

Important Regulatory Dates Add to Calendar 2019-09-13 15:00:00 2019-09-13 15:00:00 Comments Due to NAFCU: Exceptions to Employment Restrictions Under Section 205(d) of the Federal Credit Union Act (“Second Chance IRPS”) NAFCU would like to highlight the following: The proposed Second Chance IRPS would amend and expand the current de minimis exception to reduce the scope and number of offenses that would require an application to the NCUA The proposed Second Chance IRPS would not require an application for insufficient funds checks of aggregate moderate value, small-dollar simple theft, false identification, simple drug possession, and isolated minor offenses committed by covered persons as young adults. The proposed Second Chance IRPS seeks comment on whether the Board should delegate responsibility of reviewing certain applications to streamline the application process. Comments due to NAFCU: September 13, 2019 Comments due to FHFA: September 27, 2019 Comment now   NAFCU will send comments on behalf of its members to the NCUA by their deadline (September 27, 2019). Location NAFCU digital@nafcu.org America/New_York public

NAFCU would like to highlight the following:

  • The proposed Second Chance IRPS would amend and expand the current de minimis exception to reduce the scope and number of offenses that would require an application to the NCUA
  • The proposed Second Chance IRPS would not require an application for insufficient funds checks of aggregate moderate value, small-dollar simple theft, false identification, simple drug possession, and isolated minor offenses committed by covered persons as young adults.
  • The proposed Second Chance IRPS seeks comment on whether the Board should delegate responsibility of reviewing certain applications to streamline the application process.

Comments due to NAFCU: September 13, 2019

Comments due to FHFA: September 27, 2019

Comment now  

NAFCU will send comments on behalf of its members to the NCUA by their deadline (September 27, 2019).