Regulatory Resources

LATEST UPDATES:

Summary outlines involuntary liquidations rule changes
June 7, 2018 -- NCUA is expanding its definition of permissible employment-related claims to include vacation, sick, and severance pay if the payment is supported by an employee handbook or other credit union record and is calculable in accordance with a formula or criteria available to all employees, according to a new NASCUS summary of the agency’s changes to Part 709 of its rules. READ

Opinion letter for WI outlines how term 'bank' may be used
May 21, 2018 -- “Bank” as a verb to generally refer to provision of financial services is permissible for a credit union to use in its advertising, and federal law supersedes state statutes that would block the use of the word by the financial cooperatives, the federal credit union regulator has opined. However, use of “bank” as a noun to refer to a credit union is not permissible in Wisconsin, the agency stated in a legal opinion letter, and which has been summarized by NASCUS (members only). READ

Support for proposed call report/profile changes aired -- but improvements needed
April 3, 2018 -- NASCUS supports proposed changes to NCUA's call report and credit union profile, and believe the changes are a marked improvement, the association said in its comment letter to the agency. However, NASCUS pointed out, there are additional material improvements the agency can make to the call report that would yield further regulatory relief for credit unions and enhance the efficiency of the supervisory process. READ

 

SECTIONS:

2018 Proposed Rules, NASCUS Comment Letters and Recent Final Rule Summaries

Date
Proposed/Made
Final
Rule/Topic NASCUS Summary NASCUS Comment Letter
07/2018 Final Rule: NCUA 12 CFR Part 701; FCU Field of Membership Available  
07/2018 Final Rule: Capital Planning and Supervisory Stress Testing Available Available
07/2018 NCUA notice: Information about the Recent Changes to the Home Mortgage Disclosure Act    
06/2018 Final Rule: Part 723, Commercial Lending (to Remove Non-Owner Occupied 1-4 Family Dwellings from the Definition of a Member Business Loan) Available  
06/2018 Final Rule: Part 709, Involuntary Liquidation of FCUs and Claims Procedures Available  
05/2018 Proposed Rule: Payday Alternative Loans Available  
04/2018 Final Rule: Requirements for Insurance; National Credit Union Share Insurance Fund Equity Distributions Available Available
04/19/18 Final Rule: Accuracy of Advertising and Notice of Insured Status Available Available
04/16/218 NCUA Proposed Changes to its Bylaws for Federal Credit Unions (FCUs) Available  
03/14/18 Call Report Modernization Available Available

2017 Proposed Rules, NASCUS Comment Letters and Recent Final Rule Summaries

Date
Proposed/Made
Final
Rule/Topic NASCUS Summary NASCUS Comment Letter
12/2017 Capital Planning and Supervisory Stress Testing Available Available
11/2017 NCUA Final Rule: Part 746 -- Appeals Available Available
11/2017 NCUA Final rule, Corporate credit unions (Effective Dec. 22) Available Available
11/2017 NCUA Supervisory Review Committee; Final Rule: Procedures for Appealing Material Supervisory Determinations Available Available
10/2017 NCUA Board Action: Closing the TCCUSF & Setting the Normal Operating Level Available NA
10/2017 Accuracy of Advertising and Notice of Insured Status Available Available
09/2017 Request for Comment Regarding National Credit Union Administration Draft 2018-2022 Strategic Plan NA Available
07/2017 NCUA Regulatory Reform Agenda Request for Comments Available Available
07/2017 Proposed rule (notice of proposed rulemaking): Requirements for Insurance; National Credit Union Share Insurance Fund Equity Distributions NA Available
07/2017 ​Notice, request for comment: Closing the Temporary Corporate Credit Union Stabilization Fund and Setting the Share Insurance Fund Normal Operating Level NA Available
07/2017 NCUA Proposed revised Overhead Transfer Rate Methodology Available Available
06/2017 NCUA proposed Appeal Procedures Available Available
06/2017 FHLB Membership for Non-Federally Insured Credit Unions Available Final rule
05/2017 Mergers of Federally Insured Credit Unions Available Available
03/2017 NCUA Regulatory Review (2017) Available Available
02/2017

Advance Notice of Proposed Rulemaking (ANPR), Alternative Capital

Available

Available

 

2016 Proposed Rules, NASCUS Comment Letters and Recent Final Rule Summaries

Date Proposed/Made Final Rule/Topic NASCUS Summary NASCUS Comment Letter
12/2016 NCUA 12 CFR Part 701 & 721; FCU Occupancy Available  
12/2016 NCUA 12 CFR Part 792; Revisions to FOIA Available  
12/2016 Proposed Rule: NCUA 12 CFR Part 701; FCU Field of Membership # 2 Available  
11/2016 Final Rule: 12 CFR Part 701 NCUA Chartering & FOM Manual Available  
8/2016 Proposed Rule: FinCEN 31 CFR Parts 1010 and 1020; Customer Identification Programs, Anti-Money Laundering Programs, and Beneficial Ownership Requirements for Banks Lacking a Federal Functional Regulator Available  
8/2016 NCUA 2016 Regulatory Review Available Click here
8/2016 NCUA Exam Flexibility Initiative NA Available
6/2016

Modernizing Data Collection for Regulatory Oversight of Credit Unions

NA Available
6/2016

Interim Final Rule; NCUA 12 CFR Part 747 Civil Money Penalties

Available NA
6/2016 Proposed amendments: NCUA 12 CFR Part 705
Community Development Revolving Loan Fund (CDRLF)
Available  
5/2016

Proposed Rule: NCUA 12 CFR Part 751; Incentive-Based Compensation

Available Click here
5/2016 FinCEN 31 CFR Parts 1010, 1020, 1023, et al;
Customer Due Diligence Requirements for Financial Institutions; Final Rule

Available NA
3/2016 FinCEN 31 CFR Part 1010; Bank Secrecy Act – Reports of Foreign Financial Accounts (FBAR) Available  
3/2016 Interagency guidance: Applying Customer Identification Program Requirements to Holders of Prepaid Cards Available NA
3/2016 Final Rule, Member Business Loans; Commercial Lending Available Click here
2/2016 Proposed collection: Bank Secrecy Act Currency Transaction Report (BCTR) Available NA
1/2016 2017-21 NCUA Draft Strategic Plan Available NA
1/2016 Overheard Transfer Rate Methodology NA Click here
1/2016 Final Rule/FHFA Amendments to the FHLB Membership Regulations Available Click here

To view the rule archive, follow this link.
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2017 NCUA-Released Letters to Credit Unions and NASCUS Summaries

Date of Letter Letter Number Letter Title NASCUS Summary (members only)
12/2017 17-CU-09 Supervisory Priorities for 2018 Available
12/2017 17-CU-08 Interagency Supervisory Guidance for Institutions Affected by a Major Disaste Available
12/2017 17-CU-07 2017 Voluntary Credit Union Diversity Self-Assessment Available
10/2017 17-CU-06 Temporary Exceptions to the FIRREA Appraisal Requirements in Areas Affected by Severe Storms & Flooding Related to Hurricanes Harvey, Irma, and Maria
Available
09/2017 17-CU-05 Joint Statement – Frequently Asked Questions on the New Accounting Standard on Financial Instruments – Credit Losses Available
08/2017 17-CU-04

FFIEC Uniform HMDA Resubmission Guidelines

Available
08/2017 17-CU-03 Prepaid Rule Implementation Delay Available
03/2017 17-CU-02 Risk-Focused Examinations and Compliance Risk Available
01/2017 17-CU-01

Supervisory Priorities for 2017

Available

2016 NCUA-Released Letters to Credit Unions and NASCUS Summaries

Date of Letter Letter Number Letter Title NASCUS Summary (members only)
12/2016 16-CU-13 FAQ on the New Accounting Standard on Financial Instruments – Credit Losses Available
12/2016 16-CU-12 Risk Based Examination Scheduling Policy Available
11/2016 16-CU-11 MBL Guidance Added to Examiner’s Guide Available
11/2016 16-CU-10 Projected 2017 Share Insurance Fund Premium and Stabilization Fund Assessment Range In process
10/2016 16-CU-09 Real Estate Appraisal Waiver for Credit Unions Affected by Severe Storms and Flooding in Louisiana Available
10/2016 16-CU-08 Revised Interest Rate Risk Supervision Available
10/2016 16-CU-07 Military Lending Act Examination Approach Available
09/2016 Act. Bltn. 16-1 PCC Accounting Available
09/2016 16-CU-06 Preparing for Same-Day Automated Clearing House (ACH) Payments Available
09/2016 16-CU-05 Voluntary diversity and inclusion policies and practices checklist Available
05/2016 16-CU-04 Member Account Deposit Reconciliation Practices Available
01/2016 16-CU-03 Regulatory relief on annual privacy notices Available
01/2016 16-CU-02 CUSO Registry Available
01/2016 16-CU-01 Supervisory Priorities for 2016 Available

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2017 NCUA-Released Regulatory Alerts and NASCUS Summaries

Date of Alert Alert Number Alert Title NASCUS Summary
(members only)
2/2017 17-RA-03 Submission of 2016 Home Mortgage Disclosure Act Data Available
1/2017 17-RA-02 HMDA Data Collection Requirements for Calendar Year 2017 Available
1/2017 17-RA-01 2016 Mortgage Servicing Rule & Fair Debt Collection Practices Act Interpretive Rule Available

2016 NCUA-Released Regulatory Alerts and NASCUS Summaries

Date of Alert Alert Number Alert Title NASCUS Summary (members only)
12/2016 16-RA-07 Prepaid Accounts under the Electronic Fund Transfer Act (Regulation E) and the Truth in Lending Act (Regulation Z) Available
9/2016 16-RA-06 Department of Defense’s Interpretive Guidance on Military Lending Act Limitations on Terms of Consumer Credit Extended to Service Members and Dependents Available
5/2016 16-RA-05 Amendments Relating to Small Creditors and Rural or Underserved Areas under the Truth in Lending Act Available
3/2016 16-RA-04 Guidance on Regulatory Changes Affecting Military Members Available
2/2016 16-RA-03 Submission of 2015 HMDA Data Available
1/2016 16-RA-02 Enhanced Share Insurance Coverage (IOLTAs) Available
1/2016 16-RA-01 HMDA data collection for 2016 Available

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NCUA 2015-2018 Legal Opinions and Summaries

Date of Opinion Opinion Number Opinion Title NASCUS Summary (members only)
5/2018 17-1124 Preemption of WI Law Restricting Advertising and Use of the Word “Bank” Available
04/2018 17-1219 Field of Membership Available
03/2018 18-0133 Loan participations Available
02/2018 17-0424 Other Similar Escrow Account Share Insurance Coverage – New York Lease Security Account Available
06/2017 17-0670 Authority to Issue and Sell Securities Available
03/2017 17-0406 Contiguous geographic boundaries Available
08/2016 16-0604 Classification of MBLs Available
03/2016 15-1124 Custodial Services Available
03/2016 16-0117 Field of Membership Available
02/2016 16-0227 Network credit unions Available
08/2015 15-0813 Loan Participations in Indirect Loans – Originating Lenders Available
05/2015 14-00902

Monthly membership fees

Available

NCUA 2016-17 Supervisory Letters

Date of Opinion Opinion Number Opinion Title NASCUS Summary (members only)
03/2017 SL No. 17-01 Supervisory Letter: Evaluating Compliance Risk – Updated Compliance Risk Indicators (March 29, 2017) In process
09/2016 SL No.: 16-01 CDFI – Certified Credit Union Supervision Available

 

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Regulatory Library

Item Description Members
only

US District Court for the District of Columbia Decides ABA v NCUA

Summary/analysis of U.S. District Court decision from March 2018 in lawsuit brought by American Bankers Assn. (ABA) against NCUA over 2016 FOM rules Yes
Part 741 Compendium:
Quick Reference to
State Rules Under NCUA
Reference to rules affecting state credit unions under NCUA rules and regulations Yes
Nationwide Cooperative Agreement for the Supervision of State-Chartered Credit Unions Guidelines for state credit union supervisors to examine and supervise the interstate operations of multi-state, state-chartered credit unions. (PDF Format) No
Southeastern Regional Cooperative Interstate Agreement for the Supervision of State-Chartered Credit Unions
A regional agreement to examine and supervise the interstate operations of multi-state, state-chartered credit unions. (PDF Format) No
2015 Cooperative Interstate Agreement for the Supervision of State-Chartered Credit Unions
An agreement to promote interstate commerce and cooperation on a reciprocal basis among the states that are a signatory to this agreement: Idaho, Indiana, Kentucky, Michigan, Ohio, Oregon, Washington, West Virginia and Wisconsin. (PDF Format) No
NASCUS Accreditation and Agency Best Practices   Yes (regulator members)

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Surveys of State Credit Union System (and miscellaneous)

Item Members
only
Aug. 21, 2015: Sharing sensitive data with NCUA (letter to all FICUs)
No

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