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.

21-EA-24: Federal Reserve - New Message Format for the Fedwire Funds Service

On October 6, 2021, the Board of Governors of the Federal Reserve System (Federal Reserve) issued a notice announcing that the Reserve Banks will adopt the ISO 20022 message format for the Fedwire Funds Service (Fedwire Funds).

21-EA-23: National Credit Union Administration - Subordinated Debt

On September 28, 2021, the National Credit Union Administration (NCUA) issued a proposed rule to extend the timeframe for grandfathering secondary capital that is issued to the United States Government or one of its subdivisions (Government) under an application approved before January 1, 2022.

21-EA-22: Bureau of Consumer Financial Protection - Small Business Lending Data Collection under the Equal Credit Opportunity Act

On September 1, 2021, the Bureau of Consumer Financial Protection (Bureau) released a Proposed Rule that would amend the Bureau’s Regulation B to implement changes made by section 1071 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank) to the Equal Credit Opportunity Act (ECOA).

21-EA-21: National Credit Union Administration -Complex Credit Union Leverage Ratio, Amendments to Risk-Based Capital

On July 22, 2021, the National Credit Union Administration (NCUA) issued a proposed rule which would permit credit unions to adopt an alternative measure of risk-based capital adequacy called the complex credit union leverage ratio (CCULR).

21-EA-20: National Credit Union Administration - Digital Assets and Related Technologies

On July 27, 2021, the National Credit Union Administration (NCUA) published a request for information and comment (RFI) regarding how credit unions use and may use digital assets, Distributed Ledger Technology (DLT), and decentralized finance (DeFi) applications and what risks such uses pose to federally-insured credit unions (FICUs), related entities, and the NCUA.

21-EA-19: Department of Housing and Urban Development - Reinstatement of HUD’s Discriminatory Effects Standard

On June 25, 2021, the Department of Housing and Urban Development (HUD) issued a proposed rule to rescind HUD’s 2020 disparate impact rule and restore the 2013 discriminatory effects rule.

21-EA-17: National Credit Union Administration - Policy for Setting the Normal Operating Level

On May 25, 2021, the National Credit Union Administration (NCUA) published a request for comment (RFC) seeking information and comment on the policy and methodology used to set the National Credit Union Share Insurance Fund (SIF) Normal Operating Level (NOL).

21-EA-18: Federal Reserve System - Funds Transfers Over FedNow and Regulation J Amendments

On June 1, 2021, the Board of Governors of the Federal Reserve System (Board) released a notice and request for comment regarding proposed amendments and modifications to Regulation J pertaining to the release of the FedNow Service (FedNow).

21-EA-16: Federal Reserve - Guidelines for Evaluating Account and Services Requests

On May 11, 2021, the Board of Governors of the Federal Reserve System (Board) issued a request for comment (RFC) seeking input on proposed guidelines for evaluating requests for accounts and services at Federal Reserve Banks.

21-EA-15: Federal Reserve System - Notice of Proposed Rulemaking on Debit Card Interchange Routing

On May 13, 2021, the Board of Governors of the Federal Reserve System (Board) published a notice and request for comment (RFC) regarding proposed modifications to Regulation II that would clarify debit card issuers must enable, and allow merchants to choose from, at least two unaffiliated networks for card-not-present transactions.