Proposed Regulations

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

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22-EA-09: Department of Commerce - Developing a Framework on Competitiveness of Digital Asset Technologies

On May 19, 2022, the Department of Commerce (Commerce) issued a notice and request for comment (RFC) regarding its development of a framework for enhancing U.S. economic competitiveness in digital asset technologies. In addition to reviewing public comments, and as required by President Biden’s March 9, 2022, Executive Order, “Ensuring Responsible Development of Digital Assets,” the Secretary of Commerce will directly seek consultation on this issue from the Secretary of State, the Secretary of the Treasury, and the heads of other federal agencies.

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.

21-EA-28: FinCEN - Beneficial Ownership Information Reporting Requirements

On December 8, 2021, the Financial Crimes Enforcement Network (FinCEN) published a notice of proposed rulemaking (NPRM) to solicit feedback related to beneficial ownership reporting requirements implementing section 6403 of the Corporate Transparency Act (CTA), which was enacted as part of the National Defense Authorization Act (NDAA).

21-EA-27: FASB - Troubled Debt Restructurings

On November 23, 2021, the Financial Accounting Standards Board (FASB) issued a proposed Accounting Standards Update (ASU) to eliminate the accounting guidance for troubled debt restructurings (TDRs) for creditors that have adopted the current expected credit losses (CECL) loan loss standard while enhancing disclosure requirements for loan refinancings and restructurings by creditors made to borrowers experiencing financial difficulty.

21-EA-26: CFPB - HMDA Rule Assessment

On November 22, 2021, the Consumer Financial Protection Bureau (CFPB) published a request for information (RFI) inviting comment on its plans for the assessment of the 2015 Home Mortgage Disclosure Act (HMDA) Rule and its related amendments.

21-EA-25: CFPB - Inquiry into Big Tech Payment Platforms

On November 5, 2021, the Consumer Financial Protection Bureau (CFPB or Bureau) issued a notice and request for comment regarding the business practices of large technology companies operating domestic payment systems.

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.