The final rule amends the NCUA reporting procedures and record retention requirements to conform regulatory provisions to this new reporting system. Additionally, the final rule incorporates a statutory requirement on reporting changes of senior officials as a result of an election or appointment. The rule also clarifies the compliance report filing requirements for credit unions using the online system and provides alternatives for credit unions filing reports manually. Finally, the rule updates the record retention guidelines in Appendix A of Part 749 and includes the new Credit Union Profile form as a key operational record that should be permanently retained.
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