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The National Credit Union Administration (NCUA) maintains a rolling review schedule that identifies one-third of NCUA’s existing regulations for review each year and provides notice to the public of those regulations under review so the public may have an opportunity to comment.
While the NCUA Regulatory Review identifies one third of NCUA rules for comment each year, NCUA may ultimately decide against making any changes to a rule, furthermore, NCUA’s rulemaking during the year is not restricted to the rules identified in the annual review.
The 2008 Regulatory Review includes the following rules:
• Part 748 Security Program, Report of Suspected Crimes, Suspicious Transactions, Catastrophic Acts, and Bank Secrecy Act Compliance
• 749 Records Preservation Program and Records Retention Appendix
• 760 Loans in Areas Having Special Flood Hazards
• 790 Description of NCUA; Requests for Agency Action
• 791 Rules of NCUA Board Procedure; Promulgation of NCUA Rules and Regulations; Public Observation of NCUA Board Meetings
• 792 Requests for Information Under the Freedom of Information Act and Privacy Act, and by Subpoena; Security Procedures for Classified Information
• 793 Tort Claims Against the Government
• 794 Enforcement of Nondiscrimination on the Basis of Handicap in Programs or Activities Conducted by the NCUA
• 795 OMB Control Numbers Assigned Pursuant to the Paperwork Reduction Act
• 796 Post-employment Restrictions for Certain NCUA Examiners
Of these rules, only Part 748 [via Part 741.214]; Part 749 [via Part 741.215]; and Part 760 [via Part 741.216] apply to state-chartered federally insured credit unions.
Comments on the rules and recommended changes are due to NCUA by August 1, 2008. NASCUS will be preparing comments and any suggestions may be submitted to brian@nascus.org by July 18, 2008.
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