June 30, 2022

New on the compliance blog: CU members’ right to inspect, NCUA’s spring 2022 rulemaking agenda

ComplianceAs credit unions work to meet the needs of more than 131 million Americans, NAFCU's award-winning regulatory compliance team continues to keep credit unions informed with new posts on the Compliance Blog, published every Monday and Wednesday.

Here's a roundup of what's new this week:

Executive Sessions and the Right to Inspect: NAFCU Regulatory Compliance Counsel Justin White examines a federal credit union (FCU) member’s right to inspect the books and records of a FCU so long as the member has a “proper purpose for obtaining the records” as established under Article XVI, Section 6 of the NCUA Model Bylaws. The right to do so may create a curious question as to whether this applies to all board meetings, including less formal meetings such as executive sessions, and how this requirement may create confidentiality and privacy issues relating to the potential disclosure of board member discussions.

NCUA's Spring 2022 Rulemaking Agenda - a Mid-Year Refresh: In Wednesday’s blog, Regulatory Compliance Counsel Rebecca Tetreau shares an overview of the NCUA’s recently released spring 2022 rulemaking agenda. Tetreau details changes to the agency’s previous agenda and some new actions credit unions should be aware of. These changes include NCUA’s rulemaking on digital assets and related technologies, automated valuation models (AVMs), field of membership regulations, and more. 

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