At its Jan. 19 meeting, the NCUA Board proposed a rule to limit underserved area expansions to multiple common bond credit unions. The agency is also recommending a provision that a "physical presence be established in an added underserved area to ensure an active credit union role and better serve local residents."
In response to an American Bankers Association lawsuit in Utah, NCUA had already placed a moratorium on new underserved areas in single common bond and community federal CUs.
How would this ruling affect the way your credit union does business?
