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March 15, 2018

NCUA seeks feedback on possible FCU bylaws changes

The NCUA Board during its open meeting yesterday asked credit unions to provide feedback on ways to streamline, clarify and improve the Federal Credit Union (FCU) Bylaws. The bylaws have not been revised since 2007, and NAFCU has previously offered ways to modernize them.

The board made the request for feedback while approving an advance notice of proposed rulemaking (ANPR); a draft of the ANPR is available here. Once published in the Federal Register, the ANPR will be open for a 60-day comment period.

During discussion on the ANPR, NCUA Board Chairman J. Mark McWatters and Board Member Rick Metsger emphasized that any suggested changes to FCU bylaws need to also be compliant with the Federal Credit Union Act: "Some provisions of the standard FCU bylaws are drawn directly from the FCU Act and, therefore, may not be legally amended," the ANPR states.

The ANPR includes five specific questions the NCUA would like feedback on:

  • how to improve the amendment process;
  • how to clarify provisions related to limitation of service and expulsion of members;
  • how to improve the recruitment and development of directors;
  • how to encourage member attendance at annual and special meetings; and
  • whether overlaps between NCUA regulations and FCU bylaws should be eliminated.

The NCUA Board on Thursday also approved of a request for comment on proposed suspension and debarment procedures related to procurement issues and contractor due process. It will also be open for comment for 60 days once published in the Federal Register.

The NCUA noted that the proposed rule is similar to suspension and debarment procedures used by other federal entities. The proposed rule contains eight sections, which describe the NCUA's authority in these procedures, circumstances for and impact of suspension or debarment, the decision-making process and the contractor's right to seek judicial review of decisions.

NAFCU will continue to review both of these requests and seek member input as it provides the NCUA with feedback.

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