Proposed Regulation

NAFCU Regulatory Alerts are member-only resources containing important highlights and summaries for proposed rulemakings that affect credit unions. Each alert PDF also provides a link to send NAFCU comments that we will include in our letter to the agency or agencies that issued the proposed rule.

23-EA-03: CFPB - Registry of Supervised Nonbanks That Use Form Contracts

On February 1, 2023, the Consumer Financial Protection Bureau (CFPB or Bureau) published a proposal to require supervised nonbanks to register each year in a system established by the CFPB information about their use of certain terms and conditions in form contracts for consumer financial products and services that pose risks to consumers.

23-EA-02: CFPB - Request for Information Regarding Consumer Credit Card Market

On January 27, 2023, the Consumer Financial Protection Bureau (CFPB) published a request for information (RFI) to solicit information from the public about a number of aspects of the consumer credit card market in accordance with Section 502(a) of the Credit Card Accountability Responsibility and Disclosure Act of 2009 (CARD Act).

23-EA-01: FinCEN - Beneficial Ownership Information Access and Safeguards, and Use of FinCEN Identifiers for Entities

On December 16, 2022, the Financial Crimes Enforcement Network (FinCEN) published a notice of proposed rulemaking (NPRM) promulgating proposed regulations regarding access by authorized recipients to beneficial ownership information (BOI) that will be reported to FinCEN.

22-EA-23: NCUA - Financial Innovation: Loan Participations, Eligible Obligations, and Notes of Liquidating Credit Unions

On December 15, 2022, the National Credit Union Administration (NCUA) released a proposed rule seeking comment on proposed amendments to the NCUA’s loan participation and eligible obligation regulations.

22-EA-22: SBA - Small Business Lending Company Moratorium Rescission and Removal of the Requirement for a Loan Authorization

On November 7, 2022, the Small Business Administration (SBA) published a notice of proposed rulemaking to lift the moratorium on licensing new Small Business Lending Companies (SBLCs) and add a new type of entity called a Mission-Based SBLC. SBA is also proposing to remove the requirement for a Loan Authorization.

22-EA-21: SBA - Affiliation and Lending Criteria for the SBA Business Loan Programs

On October 26, 2022, the Small Business Administration (SBA) published a notice of proposed rulemaking to amend various regulations governing SBA's 7(a) Loan Program and 504 Loan Program, including use of proceeds for partial changes of ownership, lending criteria, loan conditions, reconsiderations, and affiliation standards, to expand access to capital for small businesses and drive economic recovery.

22-EA-20: NCUA - Subordinated Debt

On October 5, 2022, the National Credit Union Administration (NCUA) published a proposal to amend its rules governing subordinated debt and grandfathered secondary capital (GSC) to accommodate a longer maximum maturity.

22-EA-19: NCUA - Member Expulsion Bylaws Amendment

On September 22, 2022, the National Credit Union Administration (NCUA) issued a notice of proposed rulemaking to develop a policy by which a federal credit union (FCU) member may be expelled for cause by a two-thirds vote of a quorum of the FCU’s board of directors.

22-EA-18: FTC - Trade Regulation Rule on Commercial Surveillance and Data Security

On August 22, 2022, the Federal Trade Commission (FTC) published an advance notice of proposed rulemaking (ANPR) to seek comment on the prevalence of commercial surveillance and data security acts and practices that harm consumers.

22-EA-17: NCUA - Policy Statement on Prudent Commercial Real Estate Loan Accommodations and Workouts

On August 2, 2022, the National Credit Union Administration (NCUA), along with the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC), proposed and requested comment on a joint agency Policy Statement on Prudent Commercial Real Estate Loan Accommodations and Workouts (the proposed policy statement).