Comments Due to NAFCU: NCUA - Member Expulsion Bylaws Amendment
NAFCU would like to highlight the following:
- For cause reasons for expulsion would include a substantial or repeated violation of the membership agreement; substantial or repeated disruption to credit union operations, including dangerous or abusive behavior; or fraud, attempted fraud, or other illegal conduct.
- The rule would give a member 60 calendar days from the date of receipt of a notification of pending expulsion to request a hearing from the board of directors of the FCU.
- FCUs would not be required to provide an in-person hearing. A virtual hearing that provides the opportunity for the member to orally present their case is sufficient.
- The rule would retain the limitation of services policy as a tool to be used in tandem with the new expulsion policy.
Comments due to NAFCU: November 4, 2022
Comments due to NCUA: December 2, 2022
NAFCU will send comments on behalf of its members to the NCUA by its deadline (December 2, 2022).