Yesterday, NCUA issued Legal Opinion Letter 07-1022, which indicates that federal credit unions (FCUs) may receive and retain Visa stock as a result of Visa's restructuring. (As of this morning, the letter is not available on NCUA's website.) NAFCU members can access a copy of the letter here. (Member log-in needed.) You can read a NAFCU today article that provides a very good overview of the letter here. State-chartered credit unions should check with their state regulator on this issue.
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November 02, 2007
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