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NCUA Proposes Tenth Deregulation Round for Credit Union Conversions and Mergers

NCUA announced the tenth round of proposed regulatory changes under its Deregulation Project, seeking comments on amendments to 12 CFR Part 708a Subpart C governing credit union-to-bank conversions and mergers. The proposal would remove six prescriptive requirements including the definition of 'clear and conspicuous,' newspaper publishing mandates, specific due diligence reporting formats, and plain language determining factors. These changes aim to allow credit union boards greater flexibility in exercising fiduciary duties and business judgment.