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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18-EA-33: NCUA - Federal Credit Union Bylaws

On November 13, 2018, the National Credit Union Administration (NCUA) published a notice of proposed rulemaking regarding the federal credit union bylaws (FCU Bylaws). In addition to substantive changes, the proposed rule adds staff commentary to clarify provisions, updates provisions to conform to legal opinions issued, and provides stylistic and grammatical changes throughout.

18-EA-32: BCFP - Bureau Data Collections

On September 28, 2018, the Bureau of Consumer Financial Protection (BCFP or Bureau) published a request for information (RFI) to solicit input on the overall efficiency and effectiveness of the Bureau’s Data Governance Program and data collection activities. The RFI coincides with the release of a lengthy report on the Bureau’s current data governance program, collection activities, and data sharing procedures.

18-EA-31: Fed - Interbank Settlement of Faster Payments

On October 3, 2018, the Board published a request for comments (RFC) regarding the potential creation of a new service to facilitate real-time interbank settlement of faster payments. In general, the RFC seeks input regarding the development of a 24x7x365 RTGS settlement service and a liquidity management tool. In addition, the Board poses a series of operational questions—such as how interoperability with private settlement services might influence participation.

18-EA-30: SBA - Express Loan Programs; Affiliation Standards

On September 28, 2018, the Small Business Administration (SBA) published a proposed rule regarding its Business Loan Programs. The proposed rule affects the following SBA lending programs: 7(a) Loan Program, Business Disaster Loan Program, Microloan Program, Intermediary Lending Pilot (ILP) Program, Surety Bond Guarantee Program, and Development Company Program (504 Loan Program).

18-EA-29: NCUA - Real Estate Appraisals

On October 3, 2018, the NCUA published a notice of proposed rulemaking and request for comment to amend the agency’s regulation requiring real estate appraisals for certain transactions. The proposal increases the threshold at which appraisals are required for non-residential real estate transactions to $1 million from the current threshold of $250,000.

18-EA-28: FHFA - Uniform Mortgage-Backed Security

The FHFA has proposed a rule to foster greater liquidity in the GSEs’ TBA MBS. The proposed rule would codify existing FHFA requirements and mandate that the GSEs align their programs, policies, and practices that affect cash flows to TBA-eligible MBS investors.

18-EA-27: BCFP - Policy to Encourage Trial Disclosure Programs

On September 10, 2018, the Bureau of Consumer Financial Protection (BCFP or Bureau) published a notice of proposed policy guidance that revises the Policy to Encourage Trial Disclosure Programs (TDP Policy) and creates a new Disclosure Sandbox. Under the existing TDP Policy, covered persons may apply to test new model disclosures and may receive a legal safe harbor with respect to requirements of rules or enumerated consumer law.

18-EA-26: FASB - Current Expected Credit Losses (CECL) Update

On August 20, 2018, the FASB issued an Exposure Draft of an Update related to the codification of improvements to Topic 326, Financial Instruments—Credit Losses. These changes pertain to the CECL standard the FASB originally issued in June 2016.

18-EA-25: NCUA - Loans to Members and Lines of Credit to Members

On August 10, 2018, the NCUA published a notice of proposed rulemaking to reduce regulatory burdens and provide more user-friendly regulations regarding loans and lines of credit to members. The NCUA’s August 2017 regulatory reform agenda identified regulations the NCUA sought to amend or repeal because they were outdated, ineffective, or excessively burdensome. Several items on the agenda related to loans and lines of credit to members, and the NCUA now seeks further comment on those items.

18-EA-24: NCUA - Risk-Based Capital—Supplemental Rule

On August 8, 2018, the NCUA published a proposed rule to amend its 2015 Final Rule regarding risk-based capital. The proposal would delay the effective date of the 2015 Final Rule by one year, from January 1, 2019 to January 1, 2020. In addition, the proposal would amend the definition of a “complex” credit union.

18-EA-23: FHFA - Enterprise Capital Requirements

The FHFA has proposed a rule to create capital requirements for the GSEs. For risk-based capital requirements, the rule proposes a framework that assesses the GSEs’ risk of incurring unexpected losses through a series of approaches, including grids, risk multipliers, and credit risk transfer transactions. The rule also proposes two alternatives for updated minimum leverage capital requirements.

18-EA-22: HUD - Fair Housing Act’s Disparate Impact Standard

On June 20, 2018, the Department of Housing and Urban Development (HUD) published an advanced notice of proposed rulemaking (ANPR) regarding the agency’s implementation of the Fair Housing Act’s disparate impact standard.

18-EA-21: NCUA - Payday Alternative Loans

On May 24, 2018, the NCUA Board unanimously approved issuance of a proposed rule on PALs, creating a second option for federally chartered credit unions (FCUs). The Board's goal is to expand access to safe and affordable short-term, small-dollar lending, and provide an alternative to the kinds of predatory lending that can entrap borrowers. The proposed alternative PALs product will provide FCUs with additional flexibility to meet consumer demands.

18-EA-20: FCC - Reassigned Numbers Database

The FCC has published its Second Further Notice of Proposed Rulemaking to seek feedback on the creation of a reassigned numbers database. The Commission seeks comments on, among other issues: (1) the specific information that callers need from a reassigned numbers database; and (2) the best way to make that information available to callers that want it.

18-EA-19: CFPB - Consumer Complaint and Consumer Inquiry Handling Processes

On April 17, 2018, the Consumer Financial Protection Bureau (Bureau or CFPB) published a Request for Information (RFI) to solicit stakeholder feedback on how the CFPB can improve its processes for collecting and responding to consumer complaints and inquiries.

18-EA-18: FHFA - Notice of Regulatory Review

The FHFA is conducting this review of its regulations according to its Regulatory Review Plan, published in February 2012. Under that plan, the FHFA generally reviews its regulations at least every five years. The FHFA's first regulatory review was conducted in April 2013 and it considered 44 regulations. Now, under its 2018 Regulatory Review, the FHFA seeks comments from the public on all current regulations, except rules of agency organization, procedure, or practice, or regulations adopted or substantially amended in the past two years (since April 2016).

18-EA-17: CFPB - Guidance and Implementation Support

On April 2, 2018, the CFPB published a RFI seeking input on the agency's guidance and implementation support activities. The RFI covers all aspects of the CFPB's guidance and compliance assistance efforts, including the form, content and delivery channels used to disseminate various categories of guidance.

18-EA-16: CFPB - Financial Education Programs

On April 9, 2018, the CFPB released this RFI to seek public input on the efficiency and effectiveness of the Bureau's financial education programs. The CFPB specifically seeks feedback on its focus on various financial education topics, delivery channels, use of technology, targeting of specific populations, and overlap with other federal agency financial education programs.

18-EA-15: CFPB - Inherited Regulations

The CFPB has released this RFI to determine whether it should amend or modify the inherited regulations transferred to it by the Dodd-Frank Act. These regulations were previously under the authority of other federal agencies. The Bureau now seeks feedback regarding the substance of the inherited regulations and whether it should issue additional rules to better meet the statutory purposes and objectives of the federal consumer financial laws and the Dodd-Frank Act.

18-EA-14: CFPB - Adopted Regulations and New Rulemaking Authorities

On March 21, 2018, the CFPB issued a request for information (RFI) seeking public input on the substance of its adopted regulations and new rulemaking authorities. Adopted regulations refer to rules specifically required by the Dodd-Frank Act which have already been issued by the CFPB, while new rulemaking authorities refer to rules the CFPB is authorized to promulgate pursuant to the Dodd-Frank Act.

18-EA-13: NCUA - Federal Credit Union Bylaws

The NCUA published an ANPR seeking comment on ways to streamline, clarify, and improve the standard FCU bylaws, which are a comprehensive set of corporate governance procedures consistent with the FCU Act.