About the Webinar
After several years in the making, the NCUA recently published its guidance for examiners on Section 701.19. Under this regulation, a federal credit union may hold otherwise impermissible investments if the investment is “directly related” to the credit union’s obligations or potential obligations under an employee beneﬁt plan. The guidance addresses due diligence and direct relationship requirements, in addition to concentration limits for typical investments and individual insurers.
BFB Gallagher partners with the law firm of Sherman & Patterson to ensure federal and state compliance on every proposal, guidance, or regulation affecting executive benefits for nonprofits. The Minneapolis-based law firm represents credit union interests to regulatory agencies and examiners. Jim Patterson will explain the implications of the guidance and what action, if any, you should take now.