Proposed Regulations

On March 9, 2021, the U.S. Department of the Treasury (Treasury) issued an interim final rule (IFR) to implement statutory eligibility requirements for the Emergency Capital Investment Program (ECIP), which was authorized by the Consolidated Appropriations Act, 2021 (CAA).

On March 5, 2021, the Bureau of Consumer Financial Protection (Bureau or CFPB) published a notice of proposed rulemaking (NPRM) to delay the mandatory compliance date of the General Qualified Mortgage (QM) loan definition until October 1, 2022.

On January 14, 2021, the National Credit Union Administration (NCUA) issued an advanced notice of proposed rulemaking (ANPR) to simplify the risk based capital requirements found in the agency’s 2015 Final Risk Based Capital Rule (RBC rule).

On January 14, the National Credit Union Administration (NCUA) Board approved for publication a proposed rule to add an “S” component to the existing CAMEL rating system and to redefine the “L” component to distinguish liquidity risk from sensitivity to market risk.

On January 14, 2021, The National Credit Union Administration (NCUA) Board issued a proposed rule which seeks comment on the amendment of the NCUA’s credit union service organization (CUSO) regulation. The NCUA is also seeking comment on broadening Federal Credit Union (FCU) investment authority in CUSOs.

On January 14, 2021, the National Credit Union Administration (NCUA) issued a proposed rule to amend the definition of “complex” for purposes of being subject to any risk-based net worth (RBNW) requirement in part 702 of the NCUA’s regulations. To learn more, please read NAFCU's Regulatory Alert.

On January 8, 2021, The National Credit Union Administration (NCUA) Board published a request for information (RFI) inviting comment on NCUA’s communication methods and related initiatives to promote efficiency and increase transparency.

On December 17, 2020, the National Credit Union Administration (NCUA) Board approved for publication a proposed rule to streamline the definition of “service facilities” in the Chartering and Field of Membership Manual (Manual) found in Appendix B of Part 701.

On December 17, 2020, the National Credit Union Administration (NCUA) Board approved for publication a proposed rule to remove the requirement that a federal credit union’s (FCU’s) written overdraft policy contain a 45-day maximum time limit by which an overdrawn member must deposit funds or obtain an approved loan to cover each overdraft.

On December 31, 2020, The National Credit Union Administration (NCUA) Board issued a proposed rule amending Part 703 and 721 of its regulations regarding Mortgage Servicing Rights (MSRs).

On December 4, 2020, the National Credit Union Administration (NCUA) Board issued a proposed rule amending Appendix B to Part 741 of its regulations regarding the capitalization of interest in connection with loan workouts and modifications.

On November 5, 2020, the Office of the Comptroller (OCC); Board of Governors of the Federal Reserve System; Federal Deposit Insurance Corporation; National Credit Union Administration (NCUA) Board; and Bureau of Consumer Financial Protection (collectively, the agencies) issued a proposed interagency rule regarding supervisory guidance, amending Appendix A to Subpart D of Part 791.

On October 27, 2020, the Financial Crimes Enforcement Network (FinCEN) and Board of Governors of the Federal Reserve System (Board) issued a joint notice of proposed rulemaking (NPRM) amending the Recordkeeping and Travel Rules.

On October 22, 2020, the Consumer Financial Protection Bureau issued an advanced notice of proposed rulemaking (ANPR) requesting information related to consumer access to financial records under section 1033 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act).

On October 15, 2020, the National Credit Union Administration (NCUA) approved a notice of proposed rulemaking (NPRM) to be published in the Federal Register amending Subpart B to Part 703 of the regulations regarding derivatives.

On September 15, 2020, the Consumer Financial Protection Bureau issued an outline of proposals (Outline) under consideration to implement small business lending data collection requirements under Section 1071 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act).

On September 17, 2020, the Financial Crimes Enforcement Network (FinCEN) issued an advanced notice of proposed rulemaking (ANPR) soliciting comments on regulatory amendments to establish that all financial institutions subject to anti-money laundering (AML) requirements must maintain an “effective and reasonably designed” AML program.

On September 3, 2020, the National Credit Union Administration (NCUA), along with the Office of Comptroller of the Currency, the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Farm Credit Administration (collectively, “the agencies”) published a proposed rule to reorganize, revise, and expand the Interagency Questions and Answers Regarding Flood Insurance (“Interagency Questions & Answers”), last updated in 2011.

On August 18, 2020, the Bureau of Consumer Financial Protection (Bureau or CFPB) issued a notice of proposed rulemaking (NPRM) creating a new seasoned qualified mortgage (QM) definition under the Truth in Lending Act (TILA).

On July 30, 2020, the National Credit Union Administration (NCUA) issued a request for comment (RFC) on the agency’s existing Overhead Transfer Rate (OTR) methodology and proposed clarifications regarding how the methodology is applied to apportion operating fees charged to federal credit unions (FCUs).

On July 30, 2020, the National Credit Union Administration (NCUA) issued a request for comment (RFC) on the agency’s existing Overhead Transfer Rate (OTR) methodology and proposed clarifications regarding how the methodology is applied to apportion operating fees charged to federal credit unions (FCUs).