Regulatory
Chartering and Field of Membership for Federal Credit Unions-Interpretive Ruling and Policy Statement 08-2
Issued by National Credit Union Administration
What the record says
The NCUA Board (Board) is rescinding Interpretive Ruling and Policy Statement (IRPS) 08-2. The Chartering and Field of Membership Manual (Chartering Manual) incorporates the current requirements for adding underserved areas, making IRPS 08-2 unnecessary. This rescission reduces the burden for federal credit unions (FCUs) by limiting the number of sources that FCUs must check to verify compliance with applicable requirements. After considering the public comments, the Board adopts the proposal without modification.
This is a factual description of what was issued or decided, not an assessment of it.