ALEXANDRIA, Va. –The NCUA board has unanimously approved, by notation vote, an interagency notice of proposed rulemaking that seeks to establish data standards for certain information collections submitted to the NCUA and other financial regulatory agencies.
NCUA noted the proposal is required by the Financial Data Transparency Act of 2022 and would promote interoperability of financial regulatory data across the agencies through the establishment of data standards for identifiers of legal entities and other common identifiers.
The agency further noted that within two years of the final standards being established it is required to issue a separate rule that adopts applicable data standards for certain information it collects.
60 Days to Comment
Comments on the proposed rule will be accepted for 60 days after publication in the Federal Register.