Final Regulation Summaries

NAFCU 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



21-EF-08: NCUA - Corporate Credit Unions – Subordinated Debt

On January 14, 2021, the National Credit Union Administration (NCUA) issued a final rule to update the definitions in Part 704 of its regulations to clarify that corporate credit unions are authorized to purchase subordinated debt issued by natural person credit unions (natural person subordinated debt).

21-EF-07: SBA - Business Loan Program Temporary Changes; Paycheck Protection Program as Amended by Economic Aid Act

On January 14, 2020, the Small Business Administration (SBA) published an interim final rule (IFR) to make temporary changes to its business loan programs to implement section 311 of the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act (Economic Aid Act), which extends the Paycheck Protection Program (PPP) loan program with some revisions. The SBA issued a separate IFR implementing the new Second Draw PPP loans.

21-EF-06: SBA - Business Loan Program Temporary Changes; Paycheck Protection Program Second Draw Loans

On January 14, 2020, the Small Business Administration (SBA) published an interim final rule to make temporary changes to its business loan programs to implement section 311 of the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act (Economic Aid Act), which creates the temporary “Second Draw” Paycheck Protection Program (PPP) loan.

21-EF-05: NCUA - Subordinated Debt

On December 17, 2020, the National Credit Union Administration (NCUA) published a final rule granting complex, newly formed, and low-income designated credit unions the authority to issue subordinated debt.

21-EF-04: NCUA - Fees Paid by Credit Unions

On December 31, 2020, the National Credit Union Administration (NCUA) published a final rule, amending section 701.6(a) of the NCUA’s regulations governing the assessment of annual operating fees.

21-EF-03: NCUA - Overhead Transfer Rate Methodology and Operating Fee Schedule Methodology

On December 28, 2020, the National Credit Union Administration (NCUA) issued a final rule adopting minor changes to how operating fees are charged to federal credit unions (FCUs). The current principles-based Overhead Transfer Rate (OTR) methodology remains unchanged.

21-EF-02: CFPB - Seasoned Qualified Mortgage

On December 29, 2020, the Bureau of Consumer Financial Protection (Bureau or CFPB) published a final rule creating the definition of a seasoned qualified mortgage (QM) under the Truth in Lending Act (TILA).

21-EF-01: CFPB - General Qualified Mortgage

On December 29, 2020, the Bureau of Consumer Financial Protection (Bureau or CFPB) published a final rule amending the definition of a general qualified mortgage (QM) under the Truth in Lending Act (TILA).

20-EF-25: NCUA - Temporary Regulatory Relief in Response to COVID-19

On December 22, 2020, the National Credit Union Administration (NCUA) published an extension of a temporary final rule modifying certain regulatory requirements to help ensure that federally insured credit unions (FICUs) remain operational and liquid during the pandemic. The temporary final rule now expires on December 31, 2021.

20-EF-24: CFPB - Amendments Relating to Disclosure of Records and Information

On October 29, 2020, the Consumer Financial Protection Bureau (Bureau or CFPB) issued a final rule regarding the standards and processes which relate to the confidential treatment of information obtained from financial institutions in connection with agency’s exercise of supervisory and enforcement authorities under federal consumer financial law.

20-EF-23: CFPB - Debt Collection

On October 30, 2020, the Consumer Financial Protection Bureau (CFPB or Bureau) issued a final rule to amend Regulation F, which implements the Fair Debt Collection Practices Act (FDCPA).

20-EF-22: CFPB - Qualified Mortgage Definition – Extension of Sunset Date

On October 26, 2020, the Consumer Financial Protection Bureau (CFPB or Bureau) published a final rule and official interpretation regarding the sunset date of the Temporary Government-Sponsored Enterprise (GSE) Qualified Mortgage (QM) (Temporary GSE QM or “GSE Patch”) under the Truth in Lending Act (TILA).

20-EF-21: HUD - Disparate Impact Standard

On September 3, 2020, the Department of Housing and Urban Development (HUD) issued a final rule to amend its interpretation of the Fair Housing Act's disparate impact standard to better reflect the Supreme Court's 2015 ruling in Texas Department of Housing and Community Affairs v. Inclusive Communities Project, Inc. The new rule adopts more comprehensive pleading requirements.

20-EF-20: NCUA - Chartering and Field of Membership

On July 30, 2020, the National Credit Union Administration (NCUA) approved a final rule amending the Chartering and Field of Membership (FOM) rules found in Appendix B to Part 701.

20-EF-19: CFPB - Payday, Vehicle Title, and Certain High-Cost Installment Loans

On July 22, 2020, the Consumer Financial Protection Bureau (CFPB or Bureau) published a final rulemaking amending its regulations governing Payday, Vehicle Title, and Certain High-Cost Installment Loans (Payday Rule).

20-EF-18: CFPB - Determining “Underserved” Areas Using HMDA Data

On June 26, 2020, the Consumer Financial Protection Bureau (CFPB or Bureau) published an interpretive rule clarifying what Home Mortgage Disclosure Act (HMDA) data will be used in determining that an area is “underserved” for purposes of applying certain provisions described in Regulation Z, such as the exemption from the requirement to establish an escrow account for a higher-priced mortgage loan and the ability to originate balloon-payment qualified mortgages and balloon-payment high cost mortgages.

20-EF-17: CFPB - Treatment of Certain COVID-19 Related Loss Mitigation Options Under RESPA (Regulation X)

On April 30, 2020, the Bureau of Consumer Financial Protection (CFPB) published an interim final rule (IFR) amending its Regulation X, implementing the Real Estate Settlement Procedures Act (RESPA) to temporarily permit mortgage servicers to offer certain loss mitigation options without a complete loss mitigation application.

20-EF-16: National Credit Union Administration - Temporary Regulatory Relief in Response to COVID-19 – Prompt Corrective Action

On May 28, 2020, the National Credit Union Administration (NCUA) published an interim final rule amending its prompt corrective action (PCA) rules to provide additional regulatory flexibility as credit unions respond to and recover from the COVID-19 pandemic. In general, the amendments grant federally insured credit unions (FICUs) greater operational flexibility and relief should net worth levels decline.

20-EF-15: SBA - Business Loan Program Temporary Changes; Paycheck Protection Program; Loan Forgiveness, SBA Loan Review Procedures, and Related Borrower and Lender Responsibilities

On May 22, 2020, the Small Business Administration (SBA) published an interim final rule regarding Paycheck Protection Program (PPP) loan forgiveness requirements, implementing section 1106 of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). In addition, the SBA published a second interim final rule providing the procedures for an SBA loan review as well as related borrower and lender responsibilities in terms of forgiveness and loan reviews. This final regulatory alert combines both interim final rules.

20-EF-14: CFPB - Remittance Transfers

On May 11, 2020, the Consumer Financial Protection Bureau (CFPB or Bureau) published a final rule amending its Remittance Transfer Rule (Remittance Rule). The amendments are intended to mitigate the July 2020 sunset of a temporary exception that permits estimates of fee and exchange rate information that must otherwise be disclosed in exact amounts.

20-EF-13: CFPB - Home Mortgage Disclosure (Regulation C) Threshold Adjustments

On April 16, 2020, the Bureau of Consumer Financial Protection (CFPB) published a final rule amending its Regulation C, implementing the Home Mortgage Disclosure Act (HMDA) to adjust the thresholds for reporting on both closed-end mortgage loans and open-end lines of credit.