Chartering and Field of Membership for Federal Credit Unions-Interpretive Rulings and Policy Statements

The NCUA Board (Board) proposes to rescind its Interpretative Ruling and Policy Statement 10-1 (IRPS 10-1), which was issued as an amendment to IRPS 08-2. Rescinding IRPS 10-1 would ease the compliance burden on federal credit unions (FCUs) by limiting the number of sources that FCUs must check to ensure compliance with applicable chartering and field of membership (FOM) requirements.