NCUA 2019 Regulatory Review
Summary

Prepared by NASCUS Legislative & Regulatory Affairs Department
January 2019

NCUA has published its 2019 Regulatory Review covering 1/3 of its Rules & Regulations from Part 700 to Part 710. The Regulatory Review includes both federal credit union (FCU) only rules as well as rules that apply to federally insured state credit unions (FISCUs) by reference in Part 741.

NCUA’s Regulatory Review may be read here: https://www.ncua.gov/regulation-supervision/rules-regulations/regulatory-review.

Comments on the Regulatory Review are due to NCUA by June 1, 2019.

Summary

This year, NCUA will review the following rules as part of its administrative review (yellow highlights indicate NCUA rules applicable to state charters):

  1. 700                  Definitions
  2. 701.1               FCU Chartering, Field of Membership Modifications, and Conversions
  3. 701.2               FCU Bylaws
  4. 701.3               Member Inspection of Credit Union Books, Records, and Minutes
  5. 701.4             General Authorities and Duties of FCU Directors
  6. 701.6              Fees Paid by FCUs
  7. 701.14             Change in Official or Senior Executive Officer in Credit Unions that are Newly Chartered or are in Troubled Condition (by way of §741.205)
  8. 701.19             Benefits for Employees of FCUs
  9. 701.20            Suretyship and Guaranty (by way of §741.221)
  10. 701.21            Loans to Members and Lines of Credit to Members (by way of §741.203)
  11. 701.22            Loan Participations (by way of §741.8 & §741.225)
  12. 701.23            Purchase, Sale, and Pledge of Eligible Obligations (by way of §741.8)
  13. 701.24             Refund of Interest
  14. 701.26             Credit Union Service Contracts
  15. 701.30             Services for Nonmembers Within the Field of Membership
  16. 701.31            Nondiscrimination Requirements
  17. 701.32             Payment on Shares by Public Units & Nonmembers (by way of §741.204)
  18. 701.33             Reimbursement, Insurance, and Indemnification of Officials and Employees
  19. 701.34            Designation of Low-Income Status; Acceptance of Secondary Capital(by way of §741.204) Accounts by Low-Income Designated Credit Unions
  20. 701.35             Share, Share Draft, and Share Certificate Accounts
  21. 701.36             FCU Ownership of Fixed Assets
  22. 701.37             Treasury Tax and Loan Depositaries; Depositaries and Financial Agents of the Government
  23. 701.38             Borrowed Funds from Natural Persons
  24. 701.39             Statutory Lien
  25. Appendix A to Part 701 – FCU Bylaws
  26. Appendix B to Part 701 – FCU Chartering and Field of Membership Manual
  27. 702                 Capital Adequacy (by way of §741.3)
  28. 703                 Investment and Deposit Activities (by way of §741.3 & §741.219)
  29. 704                 Corporate Credit Unions (by way of §741.3)
  30. 705                 Community Development Revolving Loan Fund Access for Credit Unions (by way of §741.207)
  31. 707                 Truth in Savings (by way of §741.217)
  32. 708a               Bank Conversions and Mergers (by way of §741.208)
  33. 708b               Mergers of Federally-Insured Credit Unions; Voluntary Termination or Conversion of Insured Status (by way of §741.208)
  34. 709                 Involuntary Liquidation of Federal Credit Unions and Adjudication of Creditor Claims Involving Federally Insured Credit Unions in Liquidation (by way of §741.218)
  35. 710                 Voluntary Liquidation (Only 710.9)