WASHINGTON, DC (September 12, 2013) -- National Association of Federal Credit Unions (NAFCU) President and CEO B. Dan Berger today issued the following statement regarding the National Credit Union Administration's (NCUA) action on the fixed assets rule.
“We are glad they are making technical changes that would help credit unions better follow and understand the regulations. We appreciate that they heeded our concerns for the need to make numerous changes to the rule to update it and Chairman Matz’s expressed commitment today to look at the fixed asset rule more substantively. Chief among these changes is the arbitrary and impractical five percent aggregate limit on investments in fixed assets. We believe credit unions should be able to make their own business decisions, including decisions about the extent to which they should invest in additional fixed assets such as branches or the like."
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