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.

22-EA-08: HUD - Increased Forty-Year Term for Loan Modifications

On April 1, 2022, the Department of Housing and Urban Development (HUD) published a notice of proposed rulemaking (NPRM) inviting comment on its proposal to allow mortgagees to modify a Federal Housing Administration (FHA) insured mortgage by recasting the total unpaid loan for a new term limit of 480 months to cure a borrower’s default.

22-EA-07: Federal Reserve - Guidelines for Evaluating Account and Service Requests

On March 8, 2022, the Board of Governors of the Federal Reserve System (Federal Reserve) published a supplemental notice and request for comment regarding proposed guidelines for Federal Reserve Banks (Reserve Banks) to use when evaluating requests for master account access and Federal Reserve services.

22-EA-06: NCUA - Asset Threshold for Determining Appropriate Supervisory Office

On February 17, 2022, the National Credit Union Administration (NCUA) issued a proposed rule to recalibrate the asset threshold used for determining whether a natural person credit union is subject to supervision by NCUA’s Office of National Examinations and Supervision (ONES).

22-EA-05: NCUA - Succession Planning

On February 3, 2022, the National Credit Union Administration (NCUA) Board published a notice of proposed rulemaking (NPRM) inviting comment on its proposal to require federal credit union (FCU) boards of directors to establish and adhere to processes for succession planning.

22-EA-04: FinCEN - Pilot Program on Sharing of Suspicious Activity Reports and Related Information with Foreign Branches, Subsidiaries, and Affiliates

On January 25, 2022, the Financial Crimes Enforcement Network (FinCEN) published a notice of proposed rulemaking (NPRM) inviting comment on its proposed establishment of a limited-duration pilot program to permit a financial institution with a suspicious activity report (SAR) reporting obligation to share SARs and information related to SARs with the institution’s foreign branches, subsidiaries, and affiliates for the purpose of combating illicit finance risk.

22-EA-03: CFPB - Fees Imposed by Providers of Consumer Financial Products or Services

On January 26, 2022, the Consumer Financial Protection Bureau (CFPB or Bureau) published a request for information (RFI) to solicit feedback on fees imposed by providers of consumer financial products or services to assist the CFPB in exercising its enforcement, supervision, regulatory, and other authorities in creating a fairer, more transparent, and competitive consumer financial market.

22-EA-02: Federal Reserve - Central Bank Digital Currency

On January 20, 2022, the Board of Governors of the Federal Reserve System (Federal Reserve) issued a discussion paper and request for comment regarding potential adoption of a central bank digital currency (CBDC). The paper, “Money and Payments: The U.S. Dollar in the Age of Digital Transformation,” describes some of the costs and benefits of a hypothetical CBDC, but does not favor any policy outcome.

22-EA-01: CFPB - Inquiry Into Buy-Now-Pay-Later Providers

On January 24, 2022, the Consumer Financial Protection Bureau (CFPB or Bureau) issued a notice and request for comment to gain information about the size, scope, and business practices of the buy-now-pay-later (BNPL) market.

21-EA-30: FinCEN - Review of Bank Secrecy Act Regulations and Guidance

On December 15, 2021, the Financial Crimes Enforcement Network (FinCEN) published a request for information (RFI) to solicit feedback on ways to streamline, modernize, and update the anti-money laundering (AML)/countering the financing of terrorism (CFT) framework as required by section 6216 of the AML Act of 2020 (AML Act).

21-EA-29: FinCEN - AML Regulations for Real Estate Transactions

On December 8, 2021, the Financial Crimes Enforcement Network (FinCEN) published an advanced notice of proposed rulemaking (ANPR) to solicit feedback on requiring certain persons involved in real estate transactions to collect, report, and retain information for non-financed real estate transactions.