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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07-EA-23: FFIEC: Garnishment of Exempt Federal Benefit Funds

Recently, the National Credit Union Administration (NCUA), along with the other Federal Financial Institution Examination Council (the Agencies) regulators, issued Proposed Guidance on Garnishment of Exempt Federal Benefit Funds.

07-EA-15: FRB: Regulation Z (Open-End Credit)

Recently, the Board of Governors of the Federal Reserve System (Board) issued a proposed rule to amend Regulation Z, which implements the Truth in Lending Act (TILA). The proposed rule would apply principally to open-end credit that is not homesecured, and address a variety of issues relating to the format and content of open-end credit disclosures and the substantive protections provided under the regulation.

07-EA-07: NCUA: Records Preservation Program

On March 27, 2007, the National Credit Union Administration (NCUA) published a proposed rule related to federally insured credit unions' obligation to maintain a records preservation program. The proposed rule amends Parts 748 and 749 of the NCUA's Rules and Regulations by clarifying requirements for preserving vital records and the meaning of “catastrophic act,” recommending items for consideration in restoring vital member services, and adding a new appendix comprised of recommended guidelines.

08-EA-02: FRB: Regulation Z (HOEPA)

Recently, the Board of Governors of the Federal Reserve System (Board) issued a proposed rule to amend Regulation Z. Under the Home Ownership and Equity Protection Act (HOEPA), which amended the Truth in Lending Act, the Board is authorized to prohibit unfair or deceptive acts and practices in connection with mortgage lending. Accordingly, the proposed amendments would prohibit certain unfair, abusive or deceptive practices in connection with closed-end mortgage loans. The proposal is intended to focus particularly on abuses in the subprime mortgage market, while generally excluding the prime market.

08-EA-11: NCUA: CUSO Rule Amendments

The Federal Credit Union Act (FCU Act) permits federal credit unions (FCUs) to lend up to 1% of their paid-in and unimpaired capital and surplus and to invest an equivalent amount in CUSOs. NCUA's regulations allow FCUs to invest or lend to a CUSO only if the CUSO primarily services credit unions or credit union members.

08-EA-21: NCUA: ANPR on Member Business Loans

NCUA is considering clarifying or revising aspects of its member business loans rule related to loan-to-value ratio, collateral and security requirements, the requirement that credit unions use the services of individuals with two years experience in the type of lending, credit union service organization involvement, loan participations, and waivers.

08-EA-28: FRB: Regulation D; Reserve Requirements of Depository Institutions

The amendments will allow Federal Reserve Banks to pay interest on depository institutions' balances held at Federal Reserve Banks to satisfy reserve requirements and on excess balances of required reserve balances and clearing balances. The interim final rule also includes several minor changes to the Board's clearing balance policy and the method for recovering float costs.

08-EA-35: FRB: Truth in Lending; Amendment in Regulation Z

On July 30, 2008, the Board published a final rule amending Regulation Z, which implements the Truth in Lending Act (TILA). The July rule requires creditors to give consumers good faith estimates on mortgage loans other than those secured by the consumer's primary dwelling (such as a refinance loan). The July rule also requires that the disclosures be provided before the consumer pays any fee, other than a fee to obtain the consumer's credit report.

09-EA-06: NCUA: Truth in Savings Act (Regulation DD)

The proposal would amend current rules regarding electronic disclosures. Additionally, the rule would also require new disclosures regarding overdraft protection fees.

09-EA-14: NCUA: Funding and Liquidity Risk Management

Recently, the National Credit Union Administration (NCUA), along with the Office of Comptroller of the Currency (OCC), Board of Governors of the Federal Reserve System (FRB), Federal Deposit Insurance Corporate (FDIC), and Office of Thrift Supervision (OTS), issued a proposed interagency guidance on funding and liquidity risk management (proposed guidance). The proposed guidance reiterates existing principles of liquidity risk management and describes the process that institutions should follow to identify, measure, monitor and control their funding and liquidity risk.

09-EA-23: FRB: To Implement the Credit CARD Act - Truth in Lending (Regulation Z)

The Federal Reserve published a proposed rule amending Regulation Z to implement the provisions of the Credit Card Accountability, Responsibility and Disclosure Act (CARD Act) that go into effect on Feb. 22, 2010. The Board's proposal covers a wide range of activities related to credit card lending.

01-EA-07: NCUA: Interim Final Rules on Truth in Savings

The NCUA Board recently approved an interim final rule amending its regulation that implements the Truth in Savings Act (TISA). This interim final rule establishes uniform standards for the electronic delivery of disclosures required by TISA and is substantially similar to the Federal Reserve Board’s recent interim final rule amending Regulation DD.

01-EA-05: NCUA: Nondiscrimination in Advertising

On April 19, 2001, the National Credit Union Administration (NCUA) approved a proposed rule that would revise NCUA’s regulations on nondiscrimination in advertising. The proposed rule is similar to the Federal Deposit Insurance Company’s rule and would give credit unions greater flexibility in giving notice of nondiscrimination.

01-EA-04: FRB: Interim Final Rules on Electronic Disclosures

The Federal Reserve Board has issued interim final rules establishing standards for the electronic delivery of disclosures under Regulations B (Equal Credit Opportunity), E (Electronic Fund Transfers), M (Consumer Leasing), Z (Truth in Lending), and DD (Truth in Savings). Under the rules, financial institutions, creditors, lessors, and others may deliver disclosures electronically if they obtain consumers' consent in accordance with the Electronic Signatures in Global and National Commerce Act (the "E-Sign Act").

01-EA-03: NCUA: RegFlex

On March 8, 2001, the National Credit Union Administration (NCUA) approved a proposed rule on regulatory flexibility (RegFlex). This rule would permit credit unions with advanced levels of net worth and consistently strong examination ratings to be exempt, in whole or in part, from certain NCUA regulations.

01-EA-02: NCUA: Vital Records Preservation

On February 15, 2001, the National Credit Union Administration (NCUA) approved a proposed rule to amend Part 749, NCUA’s rule on vital records preservation. The proposal converts the regulation into a question-and-answer format and clarifies that records may be preserved in electronic form.

01-EA-01: NCUA: Credit Union Service Organizations (CUSOs)

On February 15, 2001, the National Credit Union Administration (NCUA) approved a proposed rule to amend Part 712, the credit union service organization (CUSO) regulation. The proposal clarifies that the list of activities currently in the rule is illustrative and adds a provision encouraging federal credit unions to seek an advisory opinion on whether a proposed activity is authorized.