Proposed Regulation

NAFCU Regulatory Alerts are member-only resources containing important highlights and summaries for proposed rulemakings that affect credit unions. 

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21-EA-05: NCUA - Risk-Based Net Worth – COVID-19 Regulatory Relief

On January 14, 2021, the National Credit Union Administration (NCUA) issued a proposed rule to amend the definition of “complex” for purposes of being subject to any risk-based net worth (RBNW) requirement in part 702 of the NCUA’s regulations. To learn more, please read NAFCU's Regulatory Alert.

21-EA-04: NCUA - Communications and Transparency

On January 8, 2021, The National Credit Union Administration (NCUA) Board published a request for information (RFI) inviting comment on NCUA’s communication methods and related initiatives to promote efficiency and increase transparency.

21-EA-03: NCUA - Chartering and Field of Membership – Shared Facility Requirements

On December 17, 2020, the National Credit Union Administration (NCUA) Board approved for publication a proposed rule to streamline the definition of “service facilities” in the Chartering and Field of Membership Manual (Manual) found in Appendix B of Part 701.

21-EA-02: NCUA - Overdraft Policy

On December 17, 2020, the National Credit Union Administration (NCUA) Board approved for publication a proposed rule to remove the requirement that a federal credit union’s (FCU’s) written overdraft policy contain a 45-day maximum time limit by which an overdrawn member must deposit funds or obtain an approved loan to cover each overdraft.

21-EA-01: NCUA - Mortgage Servicing Rights

On December 31, 2020, The National Credit Union Administration (NCUA) Board issued a proposed rule amending Part 703 and 721 of its regulations regarding Mortgage Servicing Rights (MSRs).

20-EA-24: NCUA - Capitalization of Interest

On December 4, 2020, the National Credit Union Administration (NCUA) Board issued a proposed rule amending Appendix B to Part 741 of its regulations regarding the capitalization of interest in connection with loan workouts and modifications.

20-EA-23: NCUA - Interagency Rule on Supervisory Guidance

On November 5, 2020, the Office of the Comptroller (OCC); Board of Governors of the Federal Reserve System; Federal Deposit Insurance Corporation; National Credit Union Administration (NCUA) Board; and Bureau of Consumer Financial Protection (collectively, the agencies) issued a proposed interagency rule regarding supervisory guidance, amending Appendix A to Subpart D of Part 791.

20-EA-22: FinCEN - Recordkeeping and Travel Rule

On October 27, 2020, the Financial Crimes Enforcement Network (FinCEN) and Board of Governors of the Federal Reserve System (Board) issued a joint notice of proposed rulemaking (NPRM) amending the Recordkeeping and Travel Rules.

20-EA-21: CFPB - Consumer Access to Financial Records

On October 22, 2020, the Consumer Financial Protection Bureau issued an advanced notice of proposed rulemaking (ANPR) requesting information related to consumer access to financial records under section 1033 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act).

20-EA-20: NCUA - Derivatives

On October 15, 2020, the National Credit Union Administration (NCUA) approved a notice of proposed rulemaking (NPRM) to be published in the Federal Register amending Subpart B to Part 703 of the regulations regarding derivatives.

20-EA-19: Consumer Financial Protection Bureau - Section 1071 – Outline of Proposals Under Consideration

On September 15, 2020, the Consumer Financial Protection Bureau issued an outline of proposals (Outline) under consideration to implement small business lending data collection requirements under Section 1071 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act).

20-EA-18: Financial Crimes Enforcement Network: Anti-Money Laundering Program Effectiveness

On September 17, 2020, the Financial Crimes Enforcement Network (FinCEN) issued an advanced notice of proposed rulemaking (ANPR) soliciting comments on regulatory amendments to establish that all financial institutions subject to anti-money laundering (AML) requirements must maintain an “effective and reasonably designed” AML program.

20-EA-17: NCUA - Interagency Questions and Answers Regarding Flood Insurance

On September 3, 2020, the National Credit Union Administration (NCUA), along with the Office of Comptroller of the Currency, the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Farm Credit Administration (collectively, “the agencies”) published a proposed rule to reorganize, revise, and expand the Interagency Questions and Answers Regarding Flood Insurance (“Interagency Questions & Answers”), last updated in 2011.

20-EA-16: CFPB - Seasoned Qualified Mortgage Definition

On August 18, 2020, the Bureau of Consumer Financial Protection (Bureau or CFPB) issued a notice of proposed rulemaking (NPRM) creating a new seasoned qualified mortgage (QM) definition under the Truth in Lending Act (TILA).

20-EA-15: NCUA - Fees Paid by Credit Unions

On July 30, 2020, the National Credit Union Administration (NCUA) issued a request for comment (RFC) on the agency’s existing Overhead Transfer Rate (OTR) methodology and proposed clarifications regarding how the methodology is applied to apportion operating fees charged to federal credit unions (FCUs).

20-EA-14: NCUA - Overhead Transfer Rate Methodology and Operating Fee Schedule Methodology

On July 30, 2020, the National Credit Union Administration (NCUA) issued a request for comment (RFC) on the agency’s existing Overhead Transfer Rate (OTR) methodology and proposed clarifications regarding how the methodology is applied to apportion operating fees charged to federal credit unions (FCUs).

20-EA-13: NCUA - Transition to CECL

On July 30, 2020, the National Credit Union Administration (NCUA) issued a proposed rule to establish a three-year phase-in of the day-one adverse impacts of the Current Expected Credit Loss (CECL) accounting standard on a federally-insured credit union’s (FICU) net worth ratio.

20-EA-12: CFPB - Equal Credit Opportunity Act and Regulation B

On August 3, 2020, the Consumer Financial Protection Bureau (CFPB or Bureau) published a request for information (RFI) inviting comment on opportunities to prevent credit discrimination, encourage responsible innovation, promote fair, access to credit, address uncertainty, and develop viable solutions to regulatory compliance challenges under the Equal Credit Opportunity Act (ECOA) and Regulation B.

20-EA-11: CFPB - Higher-Priced Mortgage Loan Escrow Exemption

On July 22, 2020, the Bureau of Consumer Financial Protection (Bureau or CFPB) published an notice of proposed rulemaking (NPRM) amending Regulation Z, which implements the Truth in Lending Act (TILA) as mandated by the Economic Growth, Regulatory Relief, and Consumer Protection Act (EGRRCPA).

20-EA-10: CFPB - Qualified Mortgage Definition – Extension of Sunset Date

On July 10, 2020, the Bureau of Consumer Financial Protection (Bureau or CFPB) published an notice of proposed rulemaking (NPRM) regarding the definition of a general qualified mortgage (QM) under the Truth in Lending Act (TILA).

20-EA-09: CFPB - Qualified Mortgage Definition

On July 10, 2020, the Bureau of Consumer Financial Protection (Bureau or CFPB) published a notice of proposed rulemaking (NPRM) regarding the definition of a general qualified mortgage (QM) under the Truth in Lending Act (TILA).