FOR IMMEDIATE RELEASE
Jan. 21, 2016
CONTACT: Patrick Keefe, NASCUS Communications/(703) 528-5974; firstname.lastname@example.org
NASCUS PRESIDENT AND CEO LUCY ITO
ON NCUA BOARD VOTE TO ISSUE ‘OVERHEAD TRANSFER RATE’ METHODOLOGY FOR NOTICE, COMMENT
‘An unprecedented opportunity; it’s about time’
This is an unprecedented opportunity, and it’s about time. For years, state regulators and credit unions have sought the chance to weigh in on the overhead transfer rate to address the inequities of the current system. The NASCUS legal analysis released last summer, in fact, found that that the OTR is a rule and should be subject to notice and comment. We’re gratified that NCUA has voluntarily considered the view expressed in our analysis and taken this step. Although we are still poring over the agency’s 112-page document and considering the details of the comment call, we urge as many state regulators and state credit unions as possible to file their own comments about the OTR and address a system in imbalance.
Patrick Keefe, Vice President, Communications, email@example.com or (703) 528-5974