Compliance and Regulatory Updates: Feb. 1, 2023

NCUA Ends In-Person Exception for Virtual Board Meetings: In November 2021, the NCUA issued its third letter to Federal Credit Unions (FCUs) clarifying that it ended the exception for in-person quorum rule for board and annual meetings as of December 2022. 

​Member Expulsion Policy: The right to expel a member is statutory and subject to your credit union's Bylaws for State Chartered Credit Unions. The NCUA’s final rule on member expulsion is pending for Federal Credit Unions.

FULL ARTICLE: MEMBERS ONLY