Final Regulation Summaries

Our Final Regulation Summaries are member-only resources that include full text and summaries for final rulemakings that affect credit unions. 

Subscribe to Final Regulation Emails

Not finding what you're looking for?
Search for Final Regulations in our Compliance Library
View Proposed Regulations

Filter Final Regulation Summaries Filter Close



04-EF-14: NCUA: Change in Official or Senior Executive Officer in Credit Unions That Are Newly Chartered or Are in Troubled Condition

On October 21, 2004, the National Credit Union Administration (NCUA) announced that it has amended its rule concerning the requirement that federally-insured credit unions that are newly chartered or troubled file notice with NCUA before adding or replacing a board or committee member or before employing or changing the duties of a senior executive officer.

05-EF-9: NCUA: Audit Requirements for CUSOs

Recently, the National Credit Union Administration (NCUA) issued final rules amending 12 C.F.R. part 712. The final rules provide that a wholly-owned credit union service organization (CUSO) need not obtain its own annual financial statement audit from a certified public accountant if it is included in the financial statement audit of the parent federal credit union (FCU).

05-EF-1: IRS: Cash or Deferred Arrangements Under Section 401(k) and Matching Contributions Under Section 401(m)

The Internal Revenue Service recently issued new regulations regarding certain retirement plans containing cash or deferred arrangements under § 401(k) and for matching contributions or employee contributions under § 401(m).

06-EF-8: NCUA: Part 707 (Truth in Savings)

The National Credit Union Administration (NCUA) recently issued a final rule amending 12 C.F.R. Part 707 and its official staff interpretation.

06-EF-16: NCUA: Suspicious Activity Reports

Recently, the National Credit Union Administration (NCUA), along with the other federal financial regulators (collectively, the Agencies) jointly issued for public comment a proposed rule implementing identity theft red flags and address discrepancies pursuant to sections 114 and 315 of the Fair and Accurate Credit Transactions Act of 2003 (FACT Act).

07-EF-14: NCUA: Part 717 (Affiliate Marketing - Fair Credit Reporting Act)

Recently, the National Credit Union Administration (NCUA), along with the other financial regulators, issued a final rule regarding affiliate marketing under the Fair and Accurate Credit Transaction Act of 2003 (FACT Act).

07-EF-6: SBA: Lender Risk Rating System

Dear NAFCU Member: Recently, the Small Business Administration (SBA) issued a final notice regarding its Lender Risk Rating System (Rating System).

08-EF-11: NCUA: Organization and Operations of Federal Credit Unions

The final rule addresses four aspects of the underserved areas chapter of the Chartering Manual by: (1) clarifying the procedure by which an “underserved area” qualifies as a local community; (2) establishing a test to determine whether an area is sufficiently “distressed” to qualify as “underserved”; (3) providing the requirements for demonstrating that a proposed area has “significant unmet needs” for loans and applicable financial services; and (4) providing data to credit unions to assess whether an area is underserved by other depository institutions.

08-EF-3: FRB: Regulation Z (HOEPA)

In 1994, Congress enacted HOEPA as an amendment to the Truth in Lending Act, which contains procedural and substantive protections for consumers in credit transactions. HOEPA imposed additional substantive protections on certain high-cost mortgage transactions.

09-EF-06: NCUA: Regulatory Flexibility Regarding Ownership of Fixed Assets

The rule extends the time period a Reg Flex FCU must partially occupy acquired property, absent a waiver, to six years with respect to acquisition of unimproved land.

09-EF-14: NCUA: Display of Official Sign; Temporary Increase in Standard Maximum Share Insurance Amount; Coverage for Mortgage Servicing Accounts; Share Insurance for Revocable Trust Accounts

The Emergency Economic Stabilization Act of 2008 temporarily increased the SMSIA from $100,000 to $250,000, effective October 3, 2008 and ending December 31, 2009. Pub. L. No. 110–343 (October 3, 2008). On October 15, 2008, NCUA adopted an interim final rule amending its share insurance regulations to reflect this temporary increase. On May 20, 2009, President Obama signed the Helping Families Save Their Homes Act of 2009, which extended the temporary increase from December 31, 2009 to December 31, 2013. Pub. L. No. 111-22 (May 20, 2009). By law, after December 31, 2013, the SMSIA will return to $100,000.