CrossState Submits Comment Letter on NCUA’s Succession Planning Proposal

CrossState recently submitted a comment letter to the National Credit Union Administration (NCUA) on its proposal to require federal credit union (FCU) boards of directors to establish processes for succession planning for key positions. The rule, if it becomes final, will also apply to federally insured state-chartered credit unions (FISCUs) where no state statutory or regulatory requirement conflicts with the proposed rule. 

Your voice is important. Reach out to CrossState’s Compliance team for more information about the commenting process.