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



00-EF-4: FRB: Payday Loans

The Federal Reserve Board (“Board”) is updating the Commentary to Regulation Z to reflect a decision by the Board's staff that short-term cash advances, commonly referred to as “payday loans,” should be treated as a line of credit for purposes of the Truth in Lending Act.

02-EF-08: NACHA: Operational Efficiency Issues

On June 21, 2002, the National Automated Clearing House Association (NACHA) published amendments that modify the NACHA Operating Rules.

03-EF-01: FRB: Regulation B (Equal Credit Opportunity Act)

On March 5, 2003, the Federal Reserve Board approved amendments to Regulation B, which implements the Equal Credit Opportunity Act (ECOA).

03-EF-09: NCUA: Qualified Financial Contracts (Part 709)

On May 22, 2003, the National Credit Union Administration (NCUA) Board approved a final rule to amend the involuntary liquidation regulation of the NCUA Rules and Regulations which contains provisions concerning the treatment of qualified financial contracts (QFCs) in liquidation or conservatorship.

04-EF-1: FRB/FTC: Effective Dates for the Fair and Accurate Credit Transactions Act of 2003

On February 5, 2004, the Federal Reserve Board and the Federal Trade Commission (Agencies) announced its approval of final rules to establish effective dates for the provisions of the Fair and Accurate Credit Transactio ns Act of 2003 (FACT Act) that do not have a statutorily prescribed effective date.

04-EF-9: NCUA: Health Savings Accounts

On July 29, 2004, the National Credit Union Administration (“NCUA”) announced its approval of proposed revisions amending its regulations governing a federal credit union's (FCU) authority to act as trustee or custodian to authorize FCUs to serve as trustee or custodian for Health Savings Accounts (HSA).

04-EF-17: NCUA: Parts 717 & 748: Disposal of Consumer Information (FACT Act)

The National Credit Union Administration (NCUA) recently amended its Rules and Regulations to ensure the proper disposal of consumer information derived from consumer reports in compliance with the Fair and Accurate Credit Transactions Act of 2003 (FACT Act).

05-EF-6: NCUA/FRB/FDIC/OCC: Joint Guidance on Overdraft Protection Programs

On February 18, the National Credit Union Administration (NCUA), along with the Office of the Comptroller of the Currency, Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation (Agencies) issued final joint guidance to assist insured depository institutions in the disclosure and administration of overdraft protection programs (Guidance).

06-EF-3: FRB: Regulation E

The revisions to the regulation address electronic check conversion services, in particular, consumer authorization requirements.

06-EF-11: DOD: Personal Commercial Solicitation on DoD Installations

On July 10, 2006, the Department of Defense (DoD or Department) published a final rule in the Federal Register amending Department regulations relating to policy and procedures regarding personal commercial solicitations on DoD installations.

07-EF-19: FASB: Business Combination

Recently, the Financial Accounting Standards Board (FASB) issued a Statement revising Statement of Financial Accounting Standards (FAS 141(R)). The stated purpose of FAS 141(R) is to improve, simplify, and converge internationally the accounting for business combinations.

07-EF-17: NCUA: Purchase, Sale, and Pledge of Eligible Obligations

Recently, the National Credit Union Administration (NCUA) published a final rule regarding an addition of a conflict of interest provision in NCUA's eligible obligations rule. The final rule amends § 701.23 of NCUA's rules and regulations.

07-EF-8: FRB: Regulation E (Small-Dollar Exception)

On July 5, 2007, the Board of Governors of the Federal Reserve System (Board) published in the Federal Register a final rule amending Regulation E, which implements the Electronic Fund Transfer Act (EFTA), and its official staff commentary.

08-EF-13: NCUA: Credit Union Service Organizations

The rule adds two activities as permissible CUSO activities; adds new examples of permissible CUSO activities within existing categories; expands the scope of two categories of services to include persons eligible for credit union membership; imposes limits on the ability of a credit union to recapitalize CUSOs in certain circumstances; extends the agency's access-to-records and corporate separateness provisions in the CUSO rule to federally insured, state-chartered credit unions; clarifies that CUSOs may buy and sell participations of loans they are currently authorized to originate; and deletes a section in the current rule concerning amendment requests.

08-EF-5: NCUA: The Official Advertising Statement

The rule revises the requirements for use of the official insurance sign and official advertising statement to allow insured credit unions to use the basic form of the official advertising statement, a shortened form alone, or the official sign alone in advertisements. This is intended to provide more flexibility in complying with the advertising rule.

09-EF-04: FRB: Regulation Z - Open-End Lending

The final rule changes the format, timing, and content requirements for the five main types of open-end credit disclosures governed by Regulation Z: (1) credit and charge card application and solicitation disclosures; (2) account-opening disclosures; (3) periodic statement disclosures; (4) change-in-terms notices; and (5) advertising provisions.

09-EF-12: NCUA: Truth in Savings - Overdraft Disclosures

The final rule clarifies and simplifies the disclosure process for online transactions. The Electronic Signatures in Global and National Commerce Act (E-Sign Act) authorizes credit unions to provide disclosures electronically only after the member affirmatively consents to receiving the following disclosures; (1) the right to receive the information in writing; (2) the consent necessary to receive the disclosures electronically; (3) the procedures to withdraw consent; (4) procedures for receiving a paper copy of any electronic record and (5) the equipment needed to receive electronic notices.

01-EF-05: NCUA: Vital Records Preservation (Part 749)

On July 26, 2001, the National Credit Union Administration (NCUA) approved a final rule amending Part 749.

00-EF-9: NCUA: Liquidations (Treatment of Financial Assets)

At its September meeting, the NCUA Board approved a final rule that revises NCUA rules to adhere to the articulated requirements in Financial Accounting Standards Board's (FASB) Statement No. 125.

00-EF-01: NCUA: Prompt Corrective Action (Parts 702, 741 and 747)

At a February 3 special meeting, the NCUA Board approved a final rule establishing a system of prompt corrective action (PCA) for credit unions.