Final Regulation Summaries

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

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07-EF-7: IRS: Phased Retirement

Recently, the Internal Revenue Service (IRS) issued a final rule regarding distributions from pension plans upon attainment of “normal retirement age.”

08-EF-12: FED & Treasury: Prohibition on Funding of Unlawful Internet Gambling

On November 18, 2008, the Board of Governors of the Federal Reserve System (Board) and the Department of the Treasury (Treasury) (collectively, the Agencies) issued a final rule to implement the Unlawful Internet Gambling Enforcement Act of 2006 (the Act). The Act prohibits gambling businesses from accepting payments in connection with unlawful Internet gambling and required the Agencies to promulgate regulations to implement the Act.

08-EF-4: NCUA: Guidance on Prohibitions Imposed by Section 205(d) of the FCUA

Section 205(d) of the FCU Act prohibits a person who has been convicted of any criminal offense involving dishonesty or breach of trust from participating in the affairs of a federally insured credit union. The statutory prohibition extends to persons who have entered a pretrial diversion or similar program.

09-EF-05: NCUA: Second Official Sign at Shared Branches

The final rule retains the general prohibition under §740.4(c) on federally-insured credit unions (FICUs) receiving funds at any teller station or window where any nonfederally-insured credit union also receives account funds. However, the exceptions to this rule have been changed or clarified.

09-EF-13: FRB: Regulation Z - Implementing the Higher Education Opportunity Act (HEOA)

This rule implements changes to TILA, following the passage of the Higher Education Opportunity Act of 2008 (HEOA). Most notably, the rule adds new disclosure and timing requirements that apply to creditors making private education loans.