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June 22, 2016
CDRLF rule comments due Aug. 22; civil penalties adjust up July 21
Comments on NCUA's proposed technical amendments to the Community Development Revolving Loan Fund rule are due on Aug. 22.
In a rule summary, NCUA says the amendments would "make the rule more succinct and update it to improve its transparency, organization, and ease of use by credit unions." The NCUA Board voted 2-0 to propose the rule during its June meeting last week.
During the meeting, the board also approved an interim final rule on the statutory inflation adjustment of civil money penalties ordered by the agency. That interim rule will be effective July 21; any comments on the rule must be received before then.
Both the proposed and interim final rules were published in the Federal Register Tuesday.
In a rule summary, NCUA says the amendments would "make the rule more succinct and update it to improve its transparency, organization, and ease of use by credit unions." The NCUA Board voted 2-0 to propose the rule during its June meeting last week.
During the meeting, the board also approved an interim final rule on the statutory inflation adjustment of civil money penalties ordered by the agency. That interim rule will be effective July 21; any comments on the rule must be received before then.
Both the proposed and interim final rules were published in the Federal Register Tuesday.
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