July 05, 2019

How to navigate the Federal Register

ComplianceAs credit unions seek answers to an unclear rule or further clarification on a regulation, NAFCU's Brandy Bruyere compiles a quick guide to navigate the Federal Register in a post this week on the Compliance Blog.

"Sometimes a rule is relatively straightforward, or there is staff commentary, a legal opinion letter or other guidance document from the regulator that helps explain a particular regulatory requirement," writes Bruyere, NAFCU's vice president of regulatory compliance.

For these types of rules, Bruyere highlights core resources available to research compliance questions, including:

·        the Electronic Code of Federal Regulations;

·        the NCUA's recently redesigned website; and

·        the CFPB's website.

For rules where there is little guidance or no commentary, Bruyere points to the Federal Register, where researchers can find "the preamble to a rule or proposed rule often provides more context for a particular requirement."

Access Bruyere's step-by-step guide on navigating the Federal Register here. NAFCU members can also contact the compliance team for direct assistance via email.

The association's new Compliance, Risk & BSA Network is also a great member-only resource where compliance professionals share insights and information on various issues.