Regulatory Report
Regulatory Report
  • The Fed
  • FDIC
  • OCC
  • NCUA
  • CFPB
  • Other
What's up
  • [ April 16, 2026 ] Bank agrees to make restitution after allegedly deceiving customers to take ‘cash out’ VA loans OCC
  • [ April 15, 2026 ] Consumer financial strain, rising energy costs due to war, outlined in latest Beige Book The Fed
  • [ April 14, 2026 ] ‘Ask the regulators’ May 5 to focus on proposals to revise capital requirements for smaller banks FDIC
  • [ April 14, 2026 ] FDIC to host trilateral exercise on cross-border resolution planning Saturday FDIC
  • [ April 13, 2026 ] 4 named to senior leadership posts at FDIC FDIC
HomeFederal financial regulationNCUAProposal would qualify veterans organizations for federal credit unions’ charitable giving via CDAs

Proposal would qualify veterans organizations for federal credit unions’ charitable giving via CDAs

May 25, 2023 NCUA 0

Federal credit unions would be authorized to contribute to qualified war veterans organizations through the use of charitable donation accounts (CDAs) under proposed rule issued Thursday by the National Credit Union Administration (NCUA) Board.

The proposed rule would revise Part 721 of the agency’s rules and regulations, which cover federal credit union incidental powers, to define war veterans organizations as “qualified” entities that could receive the contributions through a CDA. With this proposed rule, the agency board, to ensure the authority only focuses on organization that are both non-profit and charitable, would limit the use of CDA funds to making charitable contributions or donations to organizations that are both non-profit and charitable in nature. To that end, this proposed rule focuses on “veterans’ organizations” as defined by section 501(c)(19) of the Internal Revenue Code.

Such organizations, among other things, must be organized in the United States or any of its possessions; and at least 75% of its members must be past or present members of the United States Armed Forces, the proposal states. It adds that at least 97.5% of such organizations’ members must be:

  • present or former members of the United States Armed Forces,
  • cadets (including only students in college or university ROTC programs or at Armed Services academies), or
  • spouses, widows, widowers, ancestors, or lineal descendants of individuals referred to in the first or second bullet.

The proposed rule also explains what a qualified group’s purpose may be and lists additional qualifications for an auxiliary unit or society of a veterans’ post or organization, or a trust or foundation for a veterans’ post or organization.

It provides that “no part of its net earnings may inure to the benefit of any private shareholder or individual.”

The agency is also seeking input on what other types of entities should be included within the “qualified charity” provision of the CDA rule.

Comments will be due 60 days after the proposal is published in the Federal Register.

NCUA Board Approves Proposal to Include Veterans Organizations in Charitable Donation Accounts

Draft Federal Register notice

Related

Today

  • Bank agrees to make restitution after allegedly deceiving customers to take ‘cash out’ VA loans

    April 16, 2026 0
    Alleged, illegal inducements to deceive customers to obtain “cash out” loans on their homes have led a Chicago bank to consent to pay restitution for high origination fees and increased monthly payments, the national bank regulator said Thursday. According to [...]
  • Consumer financial strain, rising energy costs due to war, outlined in latest Beige Book

    April 15, 2026 0
    Consumer financial strain, increased price sensitivity, and rising demand at food banks and other social service organizations were reported by “many districts” in the Federal Reserve’s latest Beige Book released Wednesday. The Fed report said price growth mostly remained moderate [...]
  • ‘Ask the regulators’ May 5 to focus on proposals to revise capital requirements for smaller banks

    April 14, 2026 0
    Proposals to revise bank capital requirements will be up for discussion during a “meet the regulators” session set for May 5 by all three federal banking regulators, the agencies said Tuesday. The proposals aim to revise the standardized approach for [...]
  • FDIC to host trilateral exercise on cross-border resolution planning Saturday

    April 14, 2026 0
    A regular coordination exercise on cross-border resolution planning will be hosted by the federal bank deposit insurer on April 18, the agency said Tuesday. The heads of resolution and regulatory authorities, central banks, and finance ministries of the United States, [...]
  • 4 named to senior leadership posts at FDIC

    April 13, 2026 0
    Four individuals were appointed to senior leadership positions by the federal bank deposit insurer, the agency said Monday. The Federal Deposit Insurance Corp. (FDIC) said Benjamin Olson was appointed director of the agency’s Division of Depositor and Consumer Protection (DCP). He [...]

Resources

  • About
  • Get our daily reports
    • Registration
  • Password Reset
  • Reg lookup
  • Profile

Follow @editorregreport

  • The Fed
  • FDIC
  • OCC
  • NCUA
  • CFPB
  • Other

Copyright (c) 2022, RegReport.info; Contact: editor@regreport.info