Comments due on proposed NCUA chartering rule changes

The NCUA Board has published at 81 FR 78748 a proposal to amend its chartering and field of membership rules at 12 CFR Part 701 to give applicants for community charter approval, expansion or conversion the option, in lieu of a presumptive community, to submit a narrative to establish common interests or interaction among residents of the area it proposes to serve, thus qualifying the area as a well-defined local community. The Board also proposes to increase up to 10 million the population limit on a community consisting of a statistical area or a portion thereof. Comments on the proposal are due by December 9, 2016.