WASHINGTON—Deadlines are approaching for credit unions to submit feedback on two proposals that will affect CUs, while NCUA has opened a comment period on profile changes.
According to America’s Credit Unions, the deadlines for comments on proposals include:
- Financial Crimes Enforcement Network (FinCEN) proposal to amend FinCEN’s regulations that prescribe the minimum requirements for anti-money laundering/counter-financing of terrorism (AML/CFT) programs for financial institutions. NCUA and other federal financial regulators are also requesting input on changes to the agency’s AML/CFT Programs regulations, and the responses to the FinCEN proposal will inform America’s Credit Unions’ comments to both FinCEN and the NCUA.
- Comments are due to America’s Credit Unions by Aug. 16, and to FinCEN by Sept. 3
- Legacy CUNA members can comment here, legacy NAFCU members can submit comments here.
- CFPB proposal to amend 2013 rules regarding the responsibilities of mortgage servicers under Regulation X. The CFPB is seeking comments on several topics, including four key groups of changes related to assisting borrowers during loss mitigation and early intervention, as well as seeking comment on a fifth key issue related to credit reporting.
- Comments are due to America’s Credit Unions by Aug. 26, and to the CFPB by Sept. 9.
- Legacy NAFCU members can submit comments here, legacy CUNA members can comment here.
NCUA Opens Comment Period
Separately, NCUA has published a Federal Register Notice requesting comments on proposed Profile changes for the December 2024 cycle. The comment period ends on September 24.
Comments may be submitted using one of the following methods:
- Federal Register Portal – add hyperlink to words
- Rulemakings and Proposals for Comments on NCUA’s website – Use the link to the regulations.gov webpage where you can submit a comment by selecting Comment.
- Mail – 1775 Duke Street, Suite 5067, Alexandria, VA 22314
- Fax – 703-519-8161
- Email – PRAComments@NCUA.gov
For Info
To request a copy of the submission, contact Dacia Rogers at (703) 718-1155.
Details of the December 2024 proposed Profile changes can be obtained on the CUOnline webpage.