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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00-EA-01: NCUA: Complex Credit Unions (Part 702)

At a February 3 special meeting, the NCUA Board approved a proposed rule on a risk-based net worth requirement for “complex” credit unions. This rulemaking is the result of a requirement in the Credit Union Membership Access Act (CUMAA) to define credit unions that are complex by reason of their portfolios of assets and liabilities.

02-EA-23: NACHA: Corporate Check Conversion

NACHA has issued a request for comment on a proposed rule change that would permit the conversion/truncation of certain corporate checks in the Accounts Receivable Entries (ARC), Point-of-Purchase (POP) and Re-presented Check Entries (RCK) applications.

02-EA-15: NCUA: FCU Employee Benefits

On September 19, the NCUA Board unanimously approved a proposed rule concerning revisions to §701.19 clarifying the scope of the rule and the investments Federal credit unions may use to fund employee benefits.

02-EA-07: NACHA: Operational Efficiency Issues (Second Request for Comments)

On May 24, 2002, Rules Work Group #52 of the National Automated Clearing House Association (NACHA) published a second set of proposed amendments that would modify the NACHA Operating Rules to address inconsistencies that have been identified within the Rules and to modify certain aspects of various applications to function more efficiently in today's marketplace.

03-EA-12: FRB: Uniform Standards for Providing Disclosures (Regulations B, E, M, Z and DD); Additional Amendments to Regulation Z

Recently, the Federal Reserve Board (Board) published proposed rules designed to establish uniform standards for providing disclosures under five consumer protection regulations: B (Equal Credit Opportunity); E (Electronic Fund Transfers); M (Consumer Leasing); Z (Truth in Lending); and DD (Truth in Savings).

03-EA-4: NACHA: Data Security

Recently, NACHA's Rules Work Group #32 published proposed amendments related to ACH data security requirements. The proposed amendments are intended to strengthen ACH security for transactions occurring via Unsecured Electronic Networks.

04-EA-29: NACHA: Network Return Entry Fees - Debit Entries Returned as Unauthorized

The proposal is in response to increasing costs for managing risk in the ACH Network due to the rise in the number of unauthorized debit entries.

04-EA-21: SEC: Regulation B (Broker-Dealer Registration)

The Securities and Exchange Commission (SEC) has issued a proposed rule providing three exemptions for credit unions from the definitions of “broker” and “dealer” under the Securities Exchange Act of 1934.

04-EA-13: NCUA: Fair Credit Reporting - Disposal of Consumer Information

Recently, the National Credit Union Administration (NCUA) issued a proposed rule requiring the proper disposal of consumer information in accordance with the Fair Credit Reporting Act, as amended by the Fair and Accurate Credit Transactions Act.

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-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.

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.