Forward-thinking, innovative FOM changes needed: CUNA

first_img 4SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr CUNA is seeking changes to field-of-membership (FOM) rules that the National Credit Union Administration could address if it is prepared to take an innovative approach to the agency’s current statutory authority.The changes could go far to modernize the agency’s current rules and would reflect how modern Americans live, work and play and define their common interests, said CUNA.“NCUA should not allow the past to become a barrier or an excuse [not] to more aggressively pursue FOM expansion. Boldness will reward credit unions with new opportunities to expand services to new areas and ensure that the federal charter remains strong,” said CUNA in a letter to the NCUA. “There are no safety and soundness concerns from innovating on these requirements, only the fear of criticism from competitors who would be happy to see credit unions fail in any case.”NCUA Chair Debbie Matz has said it is on her 2015 regulatory relief agenda to look at making it easier for credit unions to alter fields of membership. NCUA Vice Chair Rick Metsger has urged credit unions to engage in the discussion.CUNA’s recommendations take three approaches: proposals within NCUA’s immediate authority to implement, proposals allowable under current statutes that would require a change to current rules, and changes that would require congressional action. continue reading »last_img read more

Kyrgyz Republic Pip India Under-19 In Penalty Shootout

first_imgNew Delhi: The Kyrgyz Republic Under-19 pipped India in the 9-12th place play-off decider of the Granatkin Memorial Tournament in a penalty shoot-out at the Turbostroitel, St. Petersburg on Tuesday.After going down to 10 men in the second minute, India came out bravely to keep the scoreline unscathed in the first half. Akash Mishra (74′) opened the scoreline for India before Emir (88′) restored the parity two minutes to the end of the regulation time. In the penalty shoot-out, Harmanpreet Singh, Sailo Lalchhanhima and Jitendra Singh missed the target while the Kyrgyz shooters were spot on to seal the fate of the game.Now, India will face the losers of the play-off match between Armenia and Tajikistan in their final play-off match to decide the 11th and 12th position in the competition. IANS Also Read: SPORTS NEWSlast_img read more