Corporate CU

Summary:  Part 745 (741.212 FISCUs)        

NCUA Proposed Rule  Part 745 (741.212 FISCUs)                                                 Joint Accounts  Summary Prepared by NASCUS Legislative & Regulatory Affairs Department June 2020  NCUA is proposing to amend its share insurance regulations,...

Summary: CFPB Advisory Opinion Proposal

Summary: CFPB Advisory Opinion Proposal 12 CFR Chapter X The Consumer Financial Protection Bureau Prepared by the Legislative and Regulatory Affairs Department  July 2020 The Consumer Financial Protection Bureau invites...

Summary: Letter to Credit Unions 20-CU-21 Field of Membership Rural Districts

Letter to Credit Unions 20-CU-21 Field of Membership Rural Districts July 2020 As a result of the SCOTUS (Supreme Court of the United States) denial of the ABA appeal of...

Summary: Letter to Credit Unions 20-CU-20 – Phased Approach to On-site Operations

Letter to Credit Unions 20-CU-20 Phased Approach to On-site Operations June 2020 NCUA issued LTCU 20-CU-20 to inform stakeholders of NCUA’s current “multi-phase transition plan” for resuming its normal on-site...

Summary: Letter to Credit Unions 20-CU-19 – Additional Guidance Regarding Servicing Hemp-Related Businesses

Letter to Credit Unions 20-CU-19 Additional Guidance Regarding Servicing Hemp-Related Businesses June 2020 NCUA has issued an update to guidance for credit unions related to serving Hemp businesses. The original...

Summary: Letter to Credit Unions 20-CU-18 – PCA Regulatory Relief Measures in Response to the COVID-19 Pandemic

Letter to Credit Unions 20-CU-18 PCA Regulatory Relief Measures in Response to the COVID-19 Pandemic June 2020 In May, 2020, the NCUA Board approved changes to the Prompt Corrective Action (PCA) requirements...

Summary: Regulatory Alert 20-RA-05 Remittance Transfers under the EFT Act

Regulatory Alert 20-RA-05 Remittance Transfers under the EFT Act June 2020 NCUA’s Regulatory Alert provides credit unions information regarding changes to the CFPB’s Remittance Rule (Regulation E) which implements the...

Summary: Federal Reserve Bd Part 204: Reserve Requirements of Depository Institutions

Federal Reserve Interim Final Rule  Regulation D                                   Part 204: Reserve Requirements of Depository Institutions  Summary Prepared by NASCUS Legislative & Regulatory Affairs Department June 2020 The Board of Governors...

Summary: Interagency Lending Principles for Offering Responsible Small-Dollar Loans

Interagency Lending Principles for Offering Responsible Small-Dollar Loans May 2020 NCUA and the federal banking agencies (Federal Reserve System, FDIC, and OCC) have published “principles” to encourage banks and credit...

Letter to Credit Unions 20-CU-16 Low-Income Designations: Qualification of Military Personnel May 2020 NCUA has announced it is changing the agency’s approach to determining whether a credit union qualifies for...

Summary: Letter to Credit Unions 20-CU-15 Principles for Making Responsible Small-Dollar Loans

Letter to Credit Unions 20-CU-15 Principles for Making Responsible Small-Dollar Loans May 2020 NCUA issued LTCU 20-CU-15 to discuss interagency guidance issued together with the Federal Reserve System, FDIC, and...

Summary: Regulatory Alert 20-RA-03 CFPB Issues Interpretive Rule on Waiver of TRID and TILA Waiting Periods

Regulatory Alert 20-RA-03 CFPB Issues Interpretive Rule on Waiver of TRID and TILA Waiting Periods May 2020 NCUA’s Regulatory Alert discussed the CFPB’s interpretive rule clarifying when consumers can elect...