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.

20-EA-01: NCUA - Combination Transactions With Non-Credit Unions; Credit Union Asset Acquisitions

NCUA: Combination Transactions With Non-Credit Unions; Credit Union Asset Acquisitions

19-EA-27: CFPB- Remittance Transfers

On December 6, 2019, the Consumer Financial Protection Bureau (Bureau) issued a proposed rule to amend Regulation E’s remittance transfer provisions (the Remittance Rule).

19-EA-26: NCUA - Notice of Proposed Rulemaking, Real Estate Appraisals

On November 29, 2019, the National Credit Union Administration (NCUA) published a notice of proposed rulemaking to amend Part 722 of the NCUA’s regulations regarding certain residential real estate appraisals.

19-EA-25: NCUA - Notice of Proposed Rulemaking, Chartering and Field of Membership

On November 7, 2019, the National Credit Union Administration (NCUA) published a proposed rule, with a 30-day comment period, to amend its Chartering and Field of Membership (FOM) Manual (Chartering Manual) to provide community credit unions with greater flexibility to include certain geographic areas in their FOMs. The proposal makes and clarifies changes consistent with the August 2019 opinion from the D.C. Circuit Court in the bankers’ lawsuit against the 2016 FOM final rule.

19-EA-24 Interagency Accounting Statement

On October 17, 2019, the National Credit Union Administration (NCUA), the Federal Deposit Insurance Corporation and Office of the Comptroller of the Currency (collectively, the “agencies”), issued a proposed interagency policy statement on allowances for credit losses.

19-EA-23: CFPB - Tech Sprints

On September 18, 2019, the Consumer Financial Protection Bureau (CFPB or Bureau) issued a request for information (RFI) to solicit comment on the potential use of tech sprints to encourage innovation and address regulatory compliance challenges. Tech sprints will involve small teams of regulators, technologists, financial institutions, and subject matter experts working together for several days to develop solutions to clearly identified problems in a collaborative environment.

19-EA-22: HUD - Disparate Impact

On August 19, 2019, the Department of Housing and Urban Development (HUD) issued a proposed rule to amend its interpretation of the Fair Housing Act's disparate impact standard to better reflect the Supreme Court's 2015 ruling in Texas Department of Housing and Community Affairs v. Inclusive Communities Project, Inc. In this regard, the new rule adopts more comprehensive pleading requirements.

19-EA-21: Financial Accounting Standards Board - Proposed Accounting Standards Update – Effective Dates

On August 15, 2019, the Financial Accounting Standards Board (FASB) issued a proposed Accounting Standards Update (ASU) to extend the effective dates for major standards not yet in effect. For the current expected credit losses (CECL) standard, credit unions would comply beginning in January 2023.

19-EA-20: Federal Reserve - Interbank Settlement of Faster Payments

On August 9, 2019, the Board of Governors of the Federal Reserve System (Board) published a notice and request for comment on a new, faster payments settlement service called FedNow. FedNow will be a 24x7x365 real-time gross settlement (RTGS) service with integrated clearing functionality designed to process individual payments within seconds.

19-EA-19: CFPB - Qualified Mortgage Definition Under the Truth in Lending Act (Regulation Z)

On July 31, 2019, the Bureau of Consumer Financial Protection (Bureau or CFPB) published an advance notice of proposed rulemaking (ANPR) regarding potential revisions to the definition of a qualified mortgage (QM) under the Truth in Lending Act (TILA).