Regulations on credit union service organizations (CUSOs), management official interlocks, and member business lending (MBL) are just a few of the one-third of all agency rules being reviewed this year by the National Credit Union Administration (NCUA).
The agency’s general counsel office keeps a rolling review schedule to ensure that three-year review goal is met; to that end, one-third of the rules is reviewed each year. The rules under scrutiny are also open to public comment, and this year the comment deadline is June 30.
Here’s the NCUA’s reg review list for 2023:
- Part 711: Management Official Interlocks
- Part 712: Credit Union Service Organizations (CUSOs)
- Part 713: Fidelity Bond and Insurance Coverage for Federally Insured Credit Unions
- Part 714: Leasing
- Part 715: Supervisory Committee Audits and Verifications
- Part 717: Fair Credit Reporting
- Part 721: Incidental Powers
- Part 722: Appraisals
- Part 723: Member Business Loans; Commercial Lending
- Part 724: Trustees and Custodians of Certain Tax-Advantaged Savings Plans
- Part 725: National Credit Union Administration Central Liquidity Facility
- Part 740: Accuracy of Advertising and Notice of Insured Status
- Part 741: Requirements for Insurance
- Part 745: Share Insurance and Appendix
- Part 746: Appeals Procedures
- Part 747: Administrative Actions, Adjudicative Hearings, Rules of Practice and Procedure, and Investigations
The NCUA says it invites comments on the clarity of these rules as well as substantive matters. Comments, by June 30, can be sent by email to ogcmail@ncua.gov, with the subject line of “Regulatory Review (2023)”; or mailed to Regulatory Review (2023), Office of General Counsel, National Credit Union Administration, 1775 Duke Street, Alexandria, VA 22314-3428.