Regulatory Resources

News and Updates

  • NCUA Office of Inspector General Material Loss Review O.U.R Federal Credit Union
    NCUA's Office of Inspector General (OIG) has published a Material Loss Review (MLR) of O.U.R Federal Credit Union a federal credit union located (FCU) in Eugene, Oregon. The failure of the $4.3 million FCU resulted in $3.7 million loss to the National Credit Union Share Insurance Fund (NCUSIF).

  • Proposed Rule and IRPS Summary
    NCUA has published a proposed rule and proposed Interpretive Ruling and Policy Statement (IRPS) to amend existing IRPS 87–2, as amended by IRPS 03–2, and two NCUA regulations that apply asset thresholds to grant relief from risk-based net worth and interest rate risk requirements for "small" credit unions.

  • OGC Legal Opinion 12-1007 Charter Change
    NCUA's Office of General Counsel (OGC) has issued a Legal Opinion to all federally chartered credit unions (FCUs) regarding confirming that NCUA has the authority to approve a credit union’s request to receive a change in its charter and subsequently merge with another credit union with the same type of field of membership.

  • OGC Legal Opinion 12-0764 Definition of Fleet
    NCUA's Office of General Counsel (OGC) was asked to revisit the definition of a "fleet" of vehicles pursuant to the Part 723.7 of NCUA Rules and Regulations pertaining to member business loans. At issue is that NCUA's MBL rule provides an exception to collateral and security requirements for commercial loans if the loan is to purchase certain types of vehicles unless the vehicle being purchased is to be part of a "fleet" of vehicles. See §723.7(a).

  • OGC Legal Opinion
    The Office of General Counsel (OGC) Legal Opinion 11-0965 addresses whether video-teller machines meet the definition of a “service facility” as that term is used in NCUA’s Chartering and Field of Membership Manual (Chartering Manual). The OGC concluded that video-teller machine meeting certain criteria would qualify as a service facility under the federal credit union (FCU) Chartering Manual. The issue is important for FCUs because NCUA rules require geographically proximate "service facilities" as a pre-requisite for a multiple common bond FCU to add a select group or an underserved area to its field of membership.

  • NCUA Proposes Change to Definition of "Troubled Condition" for State-Chartered Credit Unions
    During the National Credit Union Administration’s (NCUA) July Board meeting, the NCUA board voted unanimously to publish a notice of proposed rulemaking to amend the definition of "troubled condition" in §701.14 and elsewhere in NCUA’s regulations. View NASCUS summary of the proposal here. (Member log-in required).

  • NASCUS Summary of NCUA Elimination of Part 742 RegFlex Rule
    NCUA has eliminated the Regulatory Flexibility Rule ( Part 742) effective July 2, 2012 while removing or amending related rules to "ease compliance burden" and retaining other provisions based on safety and soundness considerations. View the summary here. (Member log-in required).

  • NASCUS Summary: NCUA 12 CFR Part 74.3 Troubled Debt Restructuring & Appendix C
    The NCUA Board issued a final rule addressing troubled debt restructuring (TDR). The new final rule will require all federally insured credit unions (FICUs) establish and maintain written policies regarding TDR, the management of loan workout arrangements and nonaccrual policies for loans. View the summary here. (Member log-in required).

  • NCUA Addresses Troubled Debt Restructuring and RegFlex at May Monthly Meeting
    The National Credit Union Administration (NCUA) Board held its monthly meeting on May 24 to address two final rules and one final interpretative ruling and policy statement (IRPS). The NCUA also provided an insurance fund report.

  • NASCUS Summary: NCUA Interest Rate Risk Final Rule Letter to Credit Unions and FAQ
    NCUA published LTCU 12-CU-05 to provide more information to credit unions regarding NCUA's new final interest rate risk (IRR) policy and program rule, Part 741.3(b)(5). The new IRR rules become effective September 30, 2012. (A summary of the final IRR rule is available on the NASCUS website here.) In the LTCU, NCUA answers "frequently asked questions" about the new IRR rule.

  • View the Regulatory Resources News and Updates archive here. See additional NASCUS summaries of regulatory guidance and correspondence at this link.


    Read NASCUS briefings of 2012 NCUA Board Meetings at this link.

Proposed Rules, NASCUS Comment Letters and Recent Final Rule Summaries

Date Proposed/Made Final Rule/Topic NASCUS Summary NASCUS Comment Letter
1/2013 NCUA Final Rule: Extension of Time Period to Accept Low Income Designation Available N/A
1/2013 NCUA Final Fule: Definition of Small Credit Union Available N/A
9/20/2012 NCUA Proposed Rule: Asset Thresholds Affecting Regulatory Relief for Small Credit Unions Available Click here
7/30/12 NCUA Proposed Rule: 12 CFR Part 741, Maintaining Access to Emergency Liquidity Available Click here
N/A NCUA 2012 Regulatory Review Available Click here
7/24/12 NCUA Proposed Rule, Parts 701.14 Troubled Condition Available Click here
5/24/12 NCUA Final Rule and Interpretative Ruling and Policy Statement (IRPS) Loan Workouts and Nonaccrual Policy and Regulatory Reporting of Troubled Debt Restructured (TDR) Loans Available Click here for proposed rule comment letter
1/26/12 NCUA ANPR 12 CFR Part 703, Financial Derivatives Transactions to Offset Interest Rate Risk Investment and Deposit Activities Available N/A (FCU only)
1/26/12 NCUA Final Rule: 12 CFR Part 741, Final Rule, Interest Rate Risk Available N/A
12/15/11 NCUA Proposed Rule: 12 CFR Parts 701 and 741, Loan Participations Available Click here
10/27/11 Final Rule: Final Rule NCUA 12 CFR Part 705 Community Development Revolving Loan Fund Access for Credit Unions Available N/A

7/22/11

Final Rule FTC: Mortgage Acts and Practices Advertising Rule - Applies to SCUs only

Available

Click here (proposed rule comments)

8/21/11 NCUA: Proposed Rule 12 CFR Parts 712 & 741, CUSOs Available Click here
6/19/11 NCUA: Final Rule, Golden Parachutes and Indemnification Payments, Part 750 Available N/A
2/17/11 NCUA: Proposed Rule, Parts 741 and 751 of NCUA's Rules and Regulations, Incentive-Based Compensation Arrangements Available Click here
2/17/11 NCUA: Proposed Rule Parts 703, 704, 709 and 742 of NCUA's Rules and Regulations, Replacement or Removal of References to Credit Ratings in NCUA Regulations Available Click here

To view the rule archive, follow this link.

 

Regulatory Library

NASCUS Accreditation and Agency Best Practices (Regulator member log-in required)

Guide for Senior Consumers on Financial Services Tips to Prevent Fraud, Abuse and Inappropriate Marketing of Financial Products and Services and Financial Services Issues for Senior Citizens
Resources developed by the State Financial Regulators Roundtable (SFRR)

2012 NASCUS Profile of State Regulatory Agencies (Member Log-in Required)

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)

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)

NASCUS Survey of the State Credit Union System

Links