Proposed Amendments to 209 CMR 50.00: Parity with Federal Credit Unions
Overview of Proposed Amendments to 209 CMR 50.00: Parity with Federal Credit Unions
Pursuant to the provisions of Massachusetts General Laws chapter 171, section 6A, and in accordance with Massachusetts General Laws chapter 30A, section 2, a public hearing will be held on Wednesday, April 25, 2012 at 10:00 a.m., 1000 Washington Street, 1st Floor, Hearing Room 1-G, Boston, Massachusetts, at which oral comments will be received by the Division of Banks relative to the adoption of proposed amendments to 209 CMR 50.00: Parity with Federal Credit Unions.
The purpose of the proposed amendments to 209 CMR 50.00 et seq. is to clarify the authority of state-chartered credit unions relative to the purchase of and participation in loans to members and non-members based on recent statutory amendments and to make additional technical changes.
Additional changes may be made based on comments received at the public hearing or during the comment period.
Written comments may be submitted to the Division on the proposed amendments until 5:00 p.m. on Wednesday, April 25, 2012. A copy of the proposed amendments is available at, and copies may be obtained from, the Massachusetts Division of Banks, 1000 Washington Street, 10th Floor, Boston, Massachusetts 02118-6400 or at www.mass.gov/dob.