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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02-EA-22: NCUA: Investments

On December 19, 2002, the National Credit Union Administration issued proposed rules to amend Part 703 and Part 742 of its Rules and Regulations. The revisions expand the investment authorities, clarify existing rules, and reformat the rule.

02-EA-14: NCUA: Requirements for Foreign Branching

On Thursday, September 19, the NCUA Board unanimously approved a proposed rule concerning the requirements for federally insured credit unions that wish to establish foreign branches. This proposed rule follows an Advance Notice of Proposed Ruling Making (ANPR) approved for comment in September 2000.

02-EA-06: NCUA: Prompt Corrective Action

On May 15, 2002, the National Credit Union Administration (NCUA) published a Notice of Proposed Rule Making soliciting comment on proposed revisions and adjustments to Part 702, Prompt Corrective Action.

03-EA-11: NCUA: Security Program and Appendix B

On October 23, 2003, NCUA issued a proposed rule modifying the security program requirements of Part 748. The proposed rule would require federally insured credit unions to ensure that their existing written security programs are designed to respond to incidents of unauthorized access to or use of member information.

03-EA-3: NACHA: Arbitration Rules

On April 15, 2003, NACHA's Rules Work Group #54 (RWG), Risk Management Issues, issued a request for comment on proposed revisions to the Arbitration Procedures provided for in the ACH Rules.

04-EA-28: NCUA: Federal Credit Union Bylaws

The National Credit Union Administration (NCUA) has published for comment proposed amendments to the Federal Credit Union (FCU) Bylaws. The proposed changes include revisions to: account requirements for joint account holders whom are each members, annual meeting requirements, options for mailing notices electronically, the automatic inclusion of mail ballots, properly designed ballots, proxy voting, age requirements for eligibility to vote and hold office; and also include a technical change for supervisory committee directorship requirements.

04-EA-20: FRB: Regulation J: Collection of Items by Federal Reserve Banks and Funds Transfers Through Fedwire

Recently, the Federal Reserve Board (Board) proposed a rule that would amend subpart A of Regulation J to provide for the rights and obligations of sending banks, paying banks, returning banks, and Reserve Banks in connection with collection of substitute checks and items that have been converted to electronic form.

04-EA-12: NCUA: Federal Credit Unions as Trustees of Health Savings Accounts

NCUA is issuing this proposed rule so that FCUs and their members can take advantage of the authority granted in the Medicare Prescription Drug, Improvement and Modernization Act of 2003 (Medicare Act).

04-EA-04: NCUA: Economic Growth and Regulatory Paperwork Reduction Act of 1996 (Consumer Protection: Lending Related Rules)

Recently, the National Credit Union Administration (NCUA) published a request for comments and suggestions on ways it can identify and reduce regulatory burdens with respect to lending-related consumer protection rules that may be outdated, unnecessary, or unduly burdensome.

05-EA-22: NCUA: Financial and Statistical Reports

The National Credit Union Administration (NCUA) has proposed a change to its rule regarding financial and statistical reports filed by all federally insured credit unions. The proposal would eliminate the requirement that federally insured credit unions with assets of less than ten million dollars file alternate Form NCUA 5300SF, and instead require all federally insured credit unions, regardless of size, to file revised Form NCUA 5300 every quarter.

05-EA-14: NCUA: Federal Credit Union Bylaws

The National Credit Union Administration (NCUA) has published for comment proposed amendments to the Federal Credit Union (FCU) Bylaws. Among other things, the proposed changes include revisions to: annual meeting requirements, requirements for calling special meetings, the required posting of monthly financial statements, and election requirements and procedures.

05-EA-06: NCUA: CUSO Financial Statement Audit Requirements

Recently, the National Credit Union Administration (NCUA) issued a request for comment on proposed amendments to 12 C.F.R. part 712. The proposed rulemaking provides that a wholly-owned credit union service organization (CUSO) need not obtain its own annual financial statement audit from a certified public accountant if it is included in the financial statement audit of the parent federal credit union (FCU).

06-EA-19: NCUA: General Lending Maturity Limit and Other Financial Services

The rule implements: (1) the statutory increase in the general lending maturity limit; and (2) the statutory expansion of the services federal credit unions are permitted to provide to nonmembers.

06-EA-11: NCUA: Revisions to the Official Sign

On June 29, 2006, the National Credit Union Administration (NCUA) issued a proposed rule and request for comment regarding revisions to the official sign indicating insured status. The proposal modifies the official sign to conform to statutorily-mandated changes that include adding a statement that NCUA-insured share accounts are “backed by the full faith and credit of the United States Government,” and the words “at least” to qualify the amount insured, which, as written, is $100,000, but may be as much as $250,000 in some cases because of recent statutory changes.

06-EA-03: NCUA: EGRPRA (Rules Relating to Agency's Programs, Capital and Corporate Credit Unions)

National Credit Union Administration (NCUA) published a request for comments and suggestions on ways it can identify and reduce regulatory burden with respect to agency programs, capital, and corporate credit union regulations that may be outdated, unnecessary, or unduly burdensome. This notice is a part of the regulatory review required by section 2222 of the Economic Growth and Regulatory Paperwork Reduction Act of 1996 (EGRPRA).

07-EA-21: FFIEC: Illustrations of Consumer Information (Subprime Mortgage Lending)

Recently, the National Credit Union Administration (NCUA), along with the other Federal Financial Institutions Examination Council (FFIEC) regulators (the Agencies), issued Proposed Illustrations of Consumer Information for Subprime Mortgage Lending.

07-EA-13: NCUA: FCU Bylaws

On June 5, 2007, the National Credit Union Administration (NCUA) published in the Federal Register a proposed rule to reincorporate the Federal Credit Union (FCU) Bylaws into NCUA regulations.

07-EA-05: NACHA: Network Enforcement Proposal

The proposed rule would (1) require Originating Depository Financial Institutions (ODFIs) that are suspected of creating the greatest risk to comply with new reporting requirements, and tie those requirements to the National System of Fines; (2) permit NACHA's Rules Enforcement Panel to suspend the privileges of originating ACH payments for Originators or Third Party Senders; and (3) increase fine levels in the National System of Fines.

08-EA-08: Treasury: President's Advisory Council on Financial Literacy

Recently, the Department of the Treasury issued a notice soliciting public comment to the President's Advisory Council on Financial Literacy (Council) on issues regarding the nation's current state of financial literacy. The Council, which was established by President Bush on January 22, 2008 by Executive Order 13458, was created to explore different possibilities for increasing financial literacy in America.

08-EA-16: NACHA: Stop Payment Issues

Recently, NACHA – The Electronic Payments Association (NACHA) published a request for comment on a proposed rule to amend the NACHA Operating Rules (Rules). The proposed rule would modify the Rules regarding stop payment orders.