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-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-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-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-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.

21-EA-14: NCUA - Compliance with BSA/AML and OFAC

On April 12, 2021, the National Credit Union Administration (NCUA) Board along with the Office of the Comptroller of the Currency (OCC), Board of Governors of the Federal Reserve System (Board), Federal Deposit Insurance Corporation (FDIC), and Financial Crimes Enforcement Network (FinCEN) (collectively the agencies) published a request for information (RFI) seeking information and comment on the extent to which the principles discussed in the Interagency Supervisory Guidance on Model Risk Management (MRMG) support compliance by banks with the Bank Secrecy Act/anti-money laundering (BSA/AML) and Office of Foreign Assets Control (OFAC) requirements.

21-EA-13: CFPB: Protections for Borrowers Affected by COVID-19 Under RESPA

On April 9, 2021, the Bureau of Consumer Financial Protection (Bureau or CFPB) published a notice of proposed rulemaking (NPRM) to protect borrowers affected by the COVID-19 pandemic under the Real Estate Settlement Procedures Act (RESPA) or Regulation X.

21-EA-12: FinCEN: Beneficial Ownership Reporting Requirements

On April 5, 2021, the Financial Crimes Enforcement Network (FinCEN) published an advanced notice of proposed rulemaking (ANPR) to solicit feedback related to beneficial ownership reporting requirements implementing section 6403 of the Corporate Transparency Act, which was enacted as part of the National Defense Authorization Act (NDAA).

21-EA-11: NCUA - Artificial Intelligence

On March 31, 2021, the National Credit Union Administration (NCUA) along with other federal banking agencies (collectively the Agencies) issued a joint request for information (RFI) to solicit comment on artificial intelligence (AI) and machine learning (ML) usage within the financial sector.