ALEXANDRIA, Va.—Commenters will have until March 22 to give feedback on NCUA’s Economic Growth and Regulatory Paperwork Reduction Act (EGRPRA) review.
Details of the review were published in the December 23 edition of the Federal Register.
Earlier this month the NCUA board voted in favor of putting out for comment certain portions of its rules as part of EGRPRA. That law requires all agency rules to be reviewed and opened to comment every 10 years; this is the fourth time in that 10-year period NCUA has put out certain rules for comment, in this case it will be rules of procedures and rules related to safety and soundness.
The comment being sought is separate from the rolling one-third of its rules NCUA reviews every year.
The following rules of procedure regulations are open for comment:
- Liquidation (12 CFR 709 and 710);
- Uniform rules of practice and procedure (12 CFR 747, subpart A);
- Local rules of practice and procedure (12 CFR 747, subparts B through J);
- Inflation adjustment of civil money penalties (12 CFR 747, subpart K); and
- Issuance, review and enforcement of orders imposing prompt corrective action (12 CFR 747, subparts L and M).
The following safety and soundness rules are open for comment:
- Lending (12 CFR 701.21);
- Investment and deposit activities (12 CFR 703);
- Supervisory committee audit (12 CFR 715);
- Security programs (12 CFR 748.0);
- Guidelines for safeguarding member information and responding to unauthorized access to member information (12 CFR 748, Appendices A and B);
- Records preservation program and appendices (12 CFR 749);
- Appraisals (12 CFR 722);
- Examination (12 CFR 741.1);
- Liquidity and contingency funding plans (12 CFR 741.12); and
- Regulations codified elsewhere in NCUA’s regulations as applying to federal credit unions that also apply to federally insured state-chartered credit unions (12 CFR 741, subpart B).