Proposed Regulations

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).

On July 30, 2020, the National Credit Union Administration (NCUA) issued a proposed rule to establish a three-year phase-in of the day-one adverse impacts of the Current Expected Credit Loss (CECL) accounting standard on a federally-insured credit union’s (FICU) net worth ratio.

On August 3, 2020, the Consumer Financial Protection Bureau (CFPB or Bureau) published a request for information (RFI) inviting comment on opportunities to prevent credit discrimination, encourage responsible innovation, promote fair, access to credit, address uncertainty, and develop viable solutions to regulatory compliance challenges under the Equal Credit Opportunity Act (ECOA) and Regulation B.

On July 22, 2020, the Bureau of Consumer Financial Protection (Bureau or CFPB) published an notice of proposed rulemaking (NPRM) amending Regulation Z, which implements the Truth in Lending Act (TILA) as mandated by the Economic Growth, Regulatory Relief, and Consumer Protection Act (EGRRCPA).

On July 10, 2020, the Bureau of Consumer Financial Protection (Bureau or CFPB) published an notice of proposed rulemaking (NPRM) regarding the definition of a general qualified mortgage (QM) under the Truth in Lending Act (TILA).

On July 10, 2020, the Bureau of Consumer Financial Protection (Bureau or CFPB) published a notice of proposed rulemaking (NPRM) regarding the definition of a general qualified mortgage (QM) under the Truth in Lending Act (TILA).

On July 1, 2020, the National Credit Union Administration (NCUA) published a Request for Information (RFI), seeking assistance in identifying considerations and challenges related to doing more examination work virtually using technology as part of its larger modernization initiative.