Technical Amendments, 1601-1610 [2018-27472]
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Federal Register / Vol. 84, No. 24 / Tuesday, February 5, 2019 / Rules and Regulations
Unfunded Mandates Reform Act of
1995
Pursuant to the Unfunded Mandates
Reform Act of 1995, 2 U.S.C. 602, 632,
653, 1501–1571, the effects of this
regulation on state, local, and tribal
governments and the private sector have
been assessed. This regulation will not
compel the expenditure in any one year
of $100 million or more by state, local,
and tribal governments, in the aggregate,
or by the private sector. Therefore, a
statement under section 1532 is not
required.
Submission to Congress and the
General Accounting Office
Pursuant to 5 U.S.C. 810(a)(1)(A), the
FRTIB submitted a report containing
this rule and other required information
to the U.S. Senate, the U.S. House of
Representatives, and the Comptroller
General of the United States before
publication of this rule in the Federal
Register. This rule is not a major rule as
defined at 5 U.S.C. 804(2).
List of Subjects
Credit, Government employees,
Pensions, Retirement.
Ravindra Deo,
Executive Director, Federal Retirement Thrift
Investment Board.
For the reasons stated in the
preamble, the FRTIB amends 5 CFR
chapter VI as follows:
PART 1655—LOAN PROGRAM
1. The authority citation for Part 1655
continues to read as follows:
■
Authority: 5 U.S.C. 8432d, 8433(g),
8439(a)(3) and 8474.
2. Revise § 1655.2 to read as follows:
§ 1655.2
Eligibility for loans.
A participant can apply for a TSP
general purpose or residential loan if:
(a) More than 60 calendar days have
elapsed since the participant has repaid
in full a TSP loan of the same type.
(b) The participant is in pay status;
(c) The participant is eligible to
contribute to the TSP (or would be
eligible to contribute but for the
suspension of the participant’s
contributions because he or she
obtained a financial hardship in-service
withdrawal);
(d) The participant has at least $1,000
in employee contributions and
attributable earnings in his or her
account; and
(e) The participant has not had a TSP
loan declared a taxable distribution
within the last 12 months for any reason
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[FR Doc. 2019–01060 Filed 2–4–19; 8:45 am]
BILLING CODE 6760–01–P
NATIONAL CREDIT UNION
ADMINISTRATION
12 CFR Parts 700, 701, 702, 703, 704,
705, 708a, 708b, 709, 710, 715, 717, 723,
725, 741, 745, 746, 747, 748, 749, 750,
760, 790, 791, and 792
RIN 3133–AE61
Technical Amendments
National Credit Union
Administration (NCUA).
ACTION: Final rule.
AGENCY:
The NCUA Board (Board) is
issuing a final rule to make technical
amendments to various provisions of
the NCUA’s regulations. These technical
amendments correct minor drafting
errors and inaccurate legal citations and
remove unnecessary regulatory
provisions no longer applicable to
federally insured credit unions (FICUs).
DATES: The final rule is effective on
February 5, 2019.
FOR FURTHER INFORMATION CONTACT:
Benjamin M. Litchfield, Staff Attorney,
Division of Regulations and Legislation,
Office of General Counsel, at 1775 Duke
Street, Alexandria, VA 22314 or
telephone: (703) 518–6540.
SUPPLEMENTARY INFORMATION:
SUMMARY:
5 CFR Part 1655
■
other than a separation from
Government service.
Paragraph (b) of this section shall not
apply to loan requests made during a
Government shutdown by participants
who are furloughed or excepted from
furlough due to the Government
shutdown.
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I. Background
II. Legal Authority
III. Section-by-Section Analysis
IV. Regulatory Procedures
I. Background
Occasionally, the Board will issue a
technical amendments rule correcting
minor drafting errors, inaccurate legal
citations, or superfluous regulatory
provisions throughout the NCUA’s
regulations. Because these changes are
technical in nature, and do not affect
FICUs in a substantive manner, the
Board issues these technical
amendments rules as final rules without
notice and comment typically required
by the Administrative Procedure Act
(APA).1 The NCUA’s Office of General
Counsel has identified a number of
minor drafting errors and inaccurate
15
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U.S.C. 553(b)(A), (B).
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1601
citations and other technical problems
throughout the NCUA’s regulations for
correction. Accordingly, the Board is
issuing this final rule to address those
matters.
II. Legal Authority
The Board has the legal authority to
issue this final rule pursuant to its
plenary rulemaking authority under the
Federal Credit Union Act (FCU Act) 2
and its specific rulemaking authority
under the various acts the Board
administers.3
III. Section-by-Section Analysis
General Wording, Style, and CrossReference Changes
The final rule makes general wording,
style, and cross-reference changes
throughout the NCUA’s regulations. For
example, the final rule replaces the term
‘‘federally-insured’’ with ‘‘federally
insured’’ wherever it appears to promote
uniformity. Technical amendments of
this nature will apply throughout the
NCUA’s regulations. Therefore, the
preamble does not address these types
of stylistic changes in the section-bysection analysis below.
Section 700.2—Definitions
The final rule amends the definitions
listed in § 700.2 of the NCUA’s
regulations. These definitions apply
throughout chapter VII of title 12 of the
Code of Federal Regulations ‘‘unless the
context indicates otherwise.’’ 4
Specifically, the final rule revises the
definition of ‘‘Act’’ to read ‘‘Federal
Credit Union Act (12 U.S.C. 1751, et
seq.).’’ The current definition, which
reads ‘‘Federal Credit Union Act (73
Stat. 628, 84 Stat. 944, 12 U.S.C. 1751
through 1790),’’ is inaccurate because it
fails to include Title III of the FCU Act.5
The revised citation ensures that the
definition of ‘‘Act’’ covers the entire
FCU Act.
The final rule also replaces the term
‘‘Administration’’ with ‘‘NCUA’’ to
avoid confusion. The term
‘‘Administration’’ only appears in
§ 700.2 and one other section of the
NCUA’s regulations. The final rule
makes conforming amendments to the
definitions of ‘‘Regional Director’’ and
‘‘Regional Office.’’
2 See
12 U.S.C. 1766, 1789.
e.g., 15 U.S.C. 6801(b) (requiring the NCUA
and the federal banking agencies to establish
standards for the administrative, technical, and
physical safeguards to protect nonpublic personal
information).
4 12 CFR 700.2.
5 Public Law 95–630, Tit. XVIII, sec. 1802, 92
Stat. 3641, 3719 (Nov. 10, 1978) (codified as 12
U.S.C. 1795 through 1795k).
3 See
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Moreover, the final rule amends the
definition of ‘‘credit union’’ to conform
to the definition in the FCU Act.6
Because several of the NCUA’s
regulations refer to ‘‘federally insured
credit unions,’’ ‘‘insured credit unions,’’
or otherwise reference the insured status
of a credit union, the final rule adds
definitions for ‘‘federally insured credit
union’’ and ‘‘noninsured credit union’’
to clarify those terms where they are not
separately defined in specific rules.
These definitions mirror the definitions
of those terms in the FCU Act.7
Finally, the final rule combines the
definitions of ‘‘paid-in and unimpaired
capital and surplus’’ and ‘‘unimpaired
capital and surplus’’ to avoid repetition.
Section 700.2 currently defines
‘‘unimpaired capital and surplus’’ as
‘‘the same as ‘paid-in and unimpaired
capital and surplus,’ as defined in
paragraph (f) of this section.’’ The final
rule replaces these separate definitions
with a single definition that reads
‘‘paid-in and unimpaired capital and
surplus or unimpaired capital and
surplus.’’
Section 701.6—Fees Paid by Federal
Credit Unions
The final rule replaces references to
‘‘the Administration’’ with ‘‘NCUA’’ in
§ 701.6 and simplifies the regulatory
text. This provision governs the
assessment of operating fees on federal
credit unions (FCUs) and the imposition
of administrative fees and interest for
delinquent payments.8 While the final
rule modernizes the language of this
section, the substantive requirements
remain the same.
Appendix B to Part 701—Chartering
and Field of Membership Manual
The final rule makes technical
amendments to the Chartering and Field
of Membership Manual (Chartering
Manual). The Board recently issued two
final rules related to FCU chartering and
field of membership. The Board
published a final rule in the Federal
Register on December 7, 2016 (‘‘FOM I’’)
that, in relevant part, expands the
Chartering Manual’s definitions of
‘‘well-defined local community’’ and
‘‘rural district.’’ 9 The Board published a
second rule in the Federal Register on
June 28, 2018 (‘‘FOM II’’) that, in
relevant part, adopts a narrative
approach for FCUs seeking to expand or
convert to a community charter.10
12 U.S.C. 1752(6).
12 U.S.C. 1752(7).
8 See 12 CFR 701.6(a).
9 ‘‘Chartering and Field of Membership Manual,’’
83 FR 30293 (June 28, 2018).
10 ‘‘Chartering and Field of Membership Manual,’’
81 FR 88412 (Dec. 7, 2016).
Both of these final rules contain
typographical errors in the regulatory
text including improperly labelled
subheadings and extraneous
punctuation. The final rule corrects
those mistakes. Furthermore, the final
rule reincorporates definitions from
FOM I for a ‘‘well-defined local
community’’ and ‘‘rural district,’’ which
were inadvertently excluded from the
regulatory text of the Chartering Manual
when FOM II was published.
Part 702—Capital Adequacy
The final rule removes amendatory
instruction 11 from the NCUA’s riskbased capital rule.11 That instruction
directs the Federal Register to edit a
section reference in § 702.504(b)(4) of
the NCUA’s regulations. However, the
Board recently removed § 702.504(b)(4)
and redesignated paragraphs (b)(5) and
(6) as (b)(4) and (5), respectively, as part
of the capital planning and stress testing
rule.12 Accordingly, there is no longer a
corresponding section reference for the
Federal Register to amend. To avoid an
editorial note in § 702.504 highlighting
this discrepancy, the final rule
withdraws instruction 11.
Sections 703.2 and 703.8—Investment
and Deposit Activities
The final rule makes technical
amendments to §§ 703.2 and 703.8 of
the NCUA’s regulations to recognize a
change in nomenclature. On March 19,
2007, the National Association of
Securities Dealers, Inc. (NASD)
consolidated with NYSE Regulation,
Inc. to create the Financial Industry
Regulatory Authority (FINRA), a selfregulatory organization charged with
policing the conduct of broker-dealers
under federal securities laws.13
Therefore, the final rule replaces
references to ‘‘National Association of
Securities Dealers’’ with ‘‘Financial
Industry Regulatory Authority’’ and
‘‘NASD’’ with ‘‘FINRA’’ wherever they
appear.
Part 708a—Bank Conversions and
Mergers
Part 708a contains the NCUA’s
regulations governing the conversion of
a FICU into a mutual savings bank and
the merger of a FICU into a bank. This
final rule updates cross-references in the
rule to reflect the redesignation of
sections that are now contained in
6 See
7 See
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11 ‘‘Risk-Based Capital,’’ 80 FR 66626, 66722 (Oct.
29, 2015).
12 ‘‘Capital Planning and Supervisory Stress
Testing,’’ 83 FR 17901 (Apr. 25, 2018).
13 See Securities Exchange Act Release No. 34–
56145 (July 26, 2007), 72 FR 42169 (Aug. 1, 2007).
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Subpart A of the bank conversions and
mergers rule.14
Part 717—Fair Credit Reporting
The final rule removes and reserves
several subparts and appendices to part
717, the NCUA’s regulation
implementing the Fair Credit Reporting
Act (FCRA).15 Historically, the federal
banking agencies, the NCUA, and the
Federal Trade Commission shared
rulemaking authority for various aspects
of the FCRA. Title X of the Dodd-Frank
Wall Street Reform and Consumer
Protection Act (Dodd-Frank Act)
transferred most rulemaking authority
for the FCRA to the Bureau of Consumer
Financial Protection (BCFP) effective
July 21, 2011.16 The BCFP published a
new Regulation V (Fair Credit
Reporting), 12 CFR part 1022, on
December 21, 2011, implementing those
provisions of the FCRA.17 Therefore, the
Board is removing all subparts and
appendices to part 717 issued under
rulemaking authority in the FCRA that
the Dodd-Frank Act transferred to the
BCFP.
Part 741—Requirements for Insurance
The final rule corrects an inaccurate
cross-reference in § 741.3(b)(5) of the
NCUA’s regulations.18 That provision
directs stakeholders to Appendix B to
part 741 for guidance on how to develop
an interest rate risk (IRR) policy and an
effective IRR program. The NCUA’s
equity distribution rule eliminated
Appendix A to part 741 and
redesignated Appendix B as Appendix
A. Accordingly, the Board is amending
§ 741.3(b)(5) to include the correct
cross-reference to current Appendix A
to part 741 which contains the NCUA’s
guidance on IRR policies.
Part 746—Appeals Procedures
The final rule also remedies an
inadvertent drafting error in the NCUA’s
supervisory review committee (SRC)
rule.19 The SRC rule permits a FICU to
appeal a material supervisory
determination made by the NCUA to
various appellate bodies within the
agency. The SRC rule provides FICUs
14 See ‘‘Fiduciary Duties at Federal Credit Unions;
Mergers and Conversions of Insured Credit
Unions,’’ 75 FR 81378 (Dec. 28, 2010)
(redesignating sections 708a.1 through 708a.13 as
sections 708a.101 through 708a.113 within Subpart
A).
15 15 U.S.C. 1681 et seq.
16 Public Law 111–203, tit. X, secs. 1061, 1088,
124 Stat. 1376, 2035–2092 (July 21, 2010).
17 See ‘‘Fair Credit Reporting (Regulation V)’’ 76
FR 79307 (Dec. 21, 2011).
18 12 CFR 741.3(b)(5).
19 See ‘‘Supervisory Review Committee;
Procedures for Appealing Material Supervisory
Determinations,’’ 82 FR 50270 (Oct. 30, 2017).
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with specific deadlines by which the
credit union must file an appeal in order
for the appellate body to hear an appeal.
The SRC rule bases these deadlines on
when the FICU receives notice of the
material supervisory determination or
the decision on appeal. Section 746.106,
which governs appeal to the Director of
the Office of Examination and Insurance
(E&I), inadvertently establishes a
deadline based on when the material
supervisory determination was rendered
by the NCUA rather than when it was
received by the FICU.20 The final rule
corrects this drafting error to clarify that
the SRC rule bases the deadline to
appeal to the Director of E&I on when
the FICU receives the material
supervisory determination not when the
decision is rendered.
Part 790—Description of NCUA;
Requests for Agency Action
Part 790 contains a description of the
NCUA’s organization and the
procedures for public requests for action
by the Board.21 This part relates solely
to the practices of the NCUA and does
not apply to FICU operations. In July
2017, the Board announced a plan to
streamline and consolidate certain of
the NCUA’s functions and offices in an
effort to reduce the NCUA’s budget and
increase efficiency. This plan includes
the elimination of two NCUA Regional
Offices effective December 31, 2018.
The final rule amends part 790 to reflect
the closure of those two offices as well
as the creation of the Office of Business
Innovation.22
IV. Regulatory Procedures
Administrative Procedure Act
Generally, the APA requires a federal
agency to provide the public with notice
and an opportunity to comment on
agency rulemakings.23 The APA,
however, creates an exception in cases
where an agency for good cause
determines ‘‘that notice and public
procedure thereon are impracticable,
unnecessary, or contrary to the public
interest.’’ 24 Because all of the changes
in this final rule involve only minor,
technical amendments to the NCUA’s
existing regulations, the Board has
determined that notice and comment
20 See
12 CFR 746.106(a).
12 CFR 790.1.
22 The Board previously amended part 792 to
reflect other aspects of the reorganization plan
including the creation of the Office of Credit Union
Resources and Expansion and the elimination of the
Office of Small Credit Union Initiatives. See
‘‘Agency Reorganization,’’ 82 FR 60290 (Dec. 20,
2017).
23 5 U.S.C. 553(b).
24 5 U.S.C. 553(b)(B).
21 See
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would be unnecessary and contrary to
the public interest.
Furthermore, the APA generally
provides that a final rule may not
become effective until at least 30 days
after its publication in the Federal
Register unless the agency determines
that good cause exists to dispense with
this requirement.25 As noted above,
given that the rule does not impose new
requirements on federally insured credit
unions and only involves minor,
technical amendments to existing
regulations, the Board finds sufficient
good cause exists to dispense with the
30-day effective date requirement. The
rule will, therefore, be effective
immediately upon publication.
Regulatory Flexibility Act
The Regulatory Flexibility Act
requires the NCUA to prepare an
analysis of any significant economic
impact a regulation may have on a
substantial number of small entities
(primarily those under $100 million in
assets).26 This final rule will have no
economic impact on small credit unions
because it only makes minor, technical
amendments to NCUA’s existing
regulations. Accordingly, the NCUA
certifies the rule will not have a
significant economic impact on a
substantial number of small credit
unions.
determine if the final rule is a ‘‘major
rule’’ for purposes of SBREFA. The
NCUA does not believe the rule is
major.
Assessment of Federal Regulations and
Policies on Families
The NCUA has determined that this
rule will not affect family well-being
within the meaning of section 654 of the
Treasury and General Government
Appropriations Act.29
Executive Order 13132
Executive Order 13132 encourages
independent regulatory agencies to
consider the impact of their actions on
state and local interests.30 The NCUA,
an independent regulatory agency as
defined in 44 U.S.C. 3502(5), voluntarily
complies with the executive order to
adhere to fundamental federalism
principles. The final rule does not have
substantial direct effects on the states,
on the relationship between the national
government and the states, or on the
distribution of power and
responsibilities among the various
levels of government. The NCUA has
therefore determined that this final rule
does not constitute a policy that has
federalism implications for purposes of
the executive order.
List of Subjects
12 CFR Part 700
Paperwork Reduction Act
The Paperwork Reduction Act of 1995
(PRA) applies to rulemakings in which
an agency by rule creates a new
paperwork burden on regulated entities
or increases an existing burden.27 For
purposes of the PRA, a paperwork
burden may take the form of a reporting
or recordkeeping requirement, both
referred to as information collections.
As the final rule only makes minor,
technical amendments to the NCUA’s
existing regulations, we have
determined it does not increase
paperwork requirements under the PRA.
Small Business Regulatory Enforcement
Fairness Act
The Small Business Regulatory
Enforcement Fairness Act of 1996
(SBREFA) provides generally for
congressional review of agency rules.28
A reporting requirement is triggered in
instances where the NCUA issues a final
rule as defined by section 551 of the
APA. As required by SBREFA, NCUA
has submitted this rule to the Office of
Management and Budget for it to
U.S.C. 553(d).
U.S.C. 601–612.
27 44 U.S.C 3501–3521.
28 5 U.S.C. 801–808.
1603
Credit unions.
12 CFR Part 701
Advertising, Aged, Civil rights, Credit,
Credit unions, Fair housing, Individuals
with disabilities, Insurance, Marital
status discrimination, Mortgages,
Religious discrimination, Reporting and
recordkeeping requirements, Sex
discrimination, Signs and symbols,
Surety bonds.
12 CFR Part 702
Credit unions, Reporting and
recordkeeping requirements.
12 CFR Part 703
Credit unions, Investments.
12 CFR Part 704
Credit unions, Reporting and
recordkeeping requirements, Surety
bonds.
12 CFR Part 705
Credit unions, Loans, Grants,
Revolving fund, Community programs,
Low income.
25 5
26 5
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29 Public Law 105–277, 654, 112 Stat. 2681, 2681–
528 (1998).
30 ‘‘Federalism,’’ E.O. 13,132 (Aug. 10, 1999).
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12 CFR Part 708a
Credit unions, Reporting and
recordkeeping requirements.
12 CFR Part 760
Credit unions, Mortgages, Flood
insurance, Reporting and recordkeeping
requirements.
12 CFR Part 708b
Bank deposit insurance, Credit
unions, Reporting and recordkeeping
requirements.
12 CFR Part 790
Organization and functions
(Government agencies).
12 CFR Part 709
Claims, Credit unions.
12 CFR Part 710
Administrative practice and
procedure, Credit unions, Reporting and
recordkeeping requirements.
12 CFR Part 715
Accounting, Credit unions, Reporting
and recordkeeping requirements.
12 CFR Part 717
Consumer protection, Credit unions,
Information, Privacy, Reporting and
recordkeeping requirements.
12 CFR Part 723
Credit, Credit unions, Member
business loans, Reporting and
recordkeeping requirements.
Authority: 12 U.S.C. 1752, 1757(6), 1766.
2. In § 700.2:
a. Revise the definitions of ‘‘Act,’’
‘‘Board,’’ and ‘‘Credit union’’;
■ b. Add definitions for ‘‘Federally
insured credit union,’’ ‘‘NCUA,’’ ‘‘and
Noninsured credit union’’ in
alphabetical order; and
■ c. Revise the definitions of ‘‘Paid-in
and unimpaired capital and surplus,’’
‘‘Regional Director,’’ and ‘‘Regional
Office’’.
The revisions and additions read as
follows:
■
■
12 CFR Part 746
Administrative practice and
procedure, Claims, Credit unions,
Investigations.
§ 700.2
12 CFR Part 747
Administrative practice and
procedure, Bank deposit insurance,
Claims, Credit unions, Crime, Equal
access to justice, Investigations,
Lawyers, Penalties.
Definitions.
*
12 CFR Part 748
Credit unions, Reporting and
recordkeeping requirements, Security
measures.
12 CFR Part 749
Archives and records, Credit unions,
Reporting and recordkeeping
requirements.
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For the reasons discussed above, the
Board is amending 12 CFR parts 700,
701, 702, 703, 704, 705, 708a, 708b, 709,
710, 715, 717, 723, 725, 741, 745, 746,
747, 748, 749, 750, 760, 790, 791, and
792 as follows:
1. The authority citation for part 700
continues to read as follows:
12 CFR Part 745
Administrative practice and
procedure, Claims, Credit unions, Share
insurance.
16:04 Feb 04, 2019
By the National Credit Union
Administration Board on December 13, 2018.
Gerard S. Poliquin,
Secretary of the Board.
■
12 CFR Part 741
Bank deposit insurance, Credit
unions, Reporting and recordkeeping
requirements.
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12 CFR Part 792
Classified information, Confidential
business information, Courts, Freedom
of information, Government employees,
Privacy.
PART 700—DEFINITIONS
12 CFR Part 725
Credit unions, Reporting and
recordkeeping requirements.
12 CFR Part 750
Credit unions, Golden parachute
payments, Indemnity payments.
12 CFR Part 791
Administrative practice and
procedure, Sunshine Act.
*
*
*
*
Act means the Federal Credit Union
Act (12 U.S.C. 1751, et seq.).
*
*
*
*
*
Board or NCUA Board refer to the
Board of the National Credit Union
Administration.
Credit union means a nonprofit
financial cooperative chartered under
the Federal Credit Union Act or under
the laws of any State, the District of
Columbia, the several territories and
possessions of the United States, or the
Commonwealth of Puerto Rico, which
laws provide for the organization of
financial cooperatives similar in
principle and objectives to cooperatives
chartered under the Federal Credit
Union Act.
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Federally insured credit union means
any credit union whose member
accounts are insured by NCUA
according to the provisions of Title II of
the Federal Credit Union Act (12 U.S.C.
1782 et seq.).
*
*
*
*
*
NCUA refers to the National Credit
Union Administration.
*
*
*
*
*
Noninsured credit union means a
credit union chartered under the laws of
any State, the District of Columbia, the
several territories and possessions of the
United States, the Panama Canal Zone,
or the Commonwealth of Puerto Rico,
whose member accounts are not insured
by NCUA.
Paid-in and unimpaired capital and
surplus or unimpaired capital and
surplus mean shares plus post-closing,
undivided earnings. This does not
include regular reserves or special
reserves required by law, regulation or
special agreement between the credit
union and its regulator or share insurer.
‘‘Paid-in and unimpaired capital and
surplus’’ for purposes of the Central
Liquidity Facility is defined in
§ 725.2(o) of this chapter.
Regional Director means the
representative of NCUA in the
designated geographical area in which
the office of the federally insured credit
union is located or, for federally insured
credit unions with $10 billion or more
in assets, the Director of the Office of
National Examinations and Supervision.
Regional Office means the office of
NCUA located in the designated
geographical areas in which the office of
the federally insured credit union is
located or, for federally insured credit
unions with $10 billion or more in
assets, the Office of National
Examinations and Supervision.
*
*
*
*
*
PART 701—ORGANIZATION AND
OPERATION OF FEDERAL CREDIT
UNIONS
3. The authority citation for part 701
continues to read as follows:
■
Authority: 12 U.S.C. 1752(5), 1755, 1756,
1757, 1758, 1759, 1761a, 1761b, 1766, 1767,
1782, 1784, 1786, 1787, 1789. Section 701.6
is also authorized by 15 U.S.C. 3717. Section
701.31 is also authorized by 15 U.S.C. 1601
et seq.; 42 U.S.C. 1981 and 3601–3610.
Section 701.35 is also authorized by 42
U.S.C. 4311–4312.
■
4. Revise § 701.6(a) to read as follows:
§ 701.6
Fees paid by federal credit unions.
(a) Basis for assessment. Each
calendar year, or as otherwise directed
by the NCUA Board, each federal credit
union shall pay an operating fee to
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NCUA for the current fiscal year
(January 1 to December 31) in
accordance with a schedule fixed by the
Board from time to time. The operating
fee shall be based on the total assets of
each federal credit union (less the assets
created on the books of natural person
federal credit unions by investments
made in a corporate credit union under
the Credit Union System Investment
Program or the Credit Union
Homeowners Affordability Relief
Program) as of December 31 of the
preceding year or as otherwise
determined pursuant to paragraph (b) of
this section.
*
*
*
*
*
§ 701.21
[Amended]
5. In § 701.21(h)(1), remove
‘‘federally-insured’’ and add in its place
‘‘federally insured’’.
■ 6. In § 701.22, remove ‘‘Federally
insured, state-chartered credit unions’’
and add in its place ‘‘Federally insured
state-chartered credit unions’’ in the
introductory text; and remove ‘‘federally
insured, state-chartered credit union’’
and add in its place ‘‘federally insured
state-chartered credit union’’ wherever
it appears.
■
§ 701.23
[Amended]
7. Amend § 701.23(b) by removing
‘‘federally-insured’’ and adding in its
place ‘‘federally insured’’ wherever it
appears.
■ 8. Amend Appendix B to part 701 as
follows:
■ a. Amend Section III of Chapter 1 by
removing the bullet after ‘‘and’’ but
before the sentence beginning with ‘‘The
fact that the certificate is made’’.
■ b. Amend Section IV.D of Chapter 1
by removing the bullet after ‘‘Continuity
plan for directors, committee members
and management staff’’ but before the
sentence beginning ‘‘Operating
facilities’’.
■ c. Amend Section V.B.1 of Chapter 1
by removing the bullet after
‘‘Organization Certificate, NCUA 4008’’
but before ‘‘Report of Official and
Agreement to Serve, NCUA 4012’’.
■ d. Revise the heading of Section V.B.5
of Chapter 1 titled ‘‘Certification of
Resolutions, NCUA 9501’’ to read
‘‘V.B.6—Certification of Resolutions,
NCUA 9501’’.
■ e. Revise the heading of Section I.A.
2 of Chapter 2 to read ‘‘I.A.2—Special
Low-Income Rules’’.
■ f. Amend Section II.A.1 of Chapter 2
by removing the bullet after the
sentence beginning with ‘‘Employees of
Johnson Soap Company’’ but before the
sentence beginning ‘‘Employees of
MMLLJS contractor’’.
■
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g. Revise the heading of Section II.A.2
of Chapter 2 to read ‘‘II.A.2—Trade,
Industry, or Profession’’.
■ h. Amend Section II.B.1 of Chapter 2
by removing the bullet after ‘‘A single
occupational common bond to a single
associational common bond’’ but before
‘‘A single occupational common bond to
a community charter’’.
■ i. Revise the heading of Section II.B of
Chapter 2 titled ‘‘Restructuring’’ to read
‘‘II.B.2—Restructuring’’.
■ j. Revise the heading of Section II.B of
Chapter 2 titled ‘‘Documentation
Requirements’’ to read ‘‘II.B.4—
Documentation Requirements’’.
■ k. Revise the heading of Section II.D
of Chapter 2 titled ‘‘Emergency
Mergers’’ to read ‘‘II.D.2—Emergency
Mergers’’.
■ l. Amend newly designated Section
II.D.2 by removing the bullet after
‘‘Serious and persistent recordkeeping
problems; or’’ but before ‘‘Serious and
persistent operational concerns’’.
■ m. Revise the heading of Section II.D
of Chapter 2 titled ‘‘Purchase and
Assumption (P&A)’’ to read ‘‘II.D.3—
Purchase and Assumption (P&A)’’.
■ n. Revise the heading of Section II.E
of Chapter 2 titled ‘‘Organizational
Restructuring’’ to read ‘‘II.E.2—
Organizational Restructuring’’.
■ o. Amend Section II.H of Chapter 2 by
removing the bullet after ‘‘Members of
the immediate family or household’’ but
before the sentence beginning
‘‘Honorably discharged veterans’’.
■ p. Amend Section III.A.1.a of Chapter
2 by removing the number ‘‘1.’’ after
paragraph 2. but before paragraph 3.
■ q. Revise the heading of Section
III.A.1 of Chapter 2 titled ‘‘PreApproved Groups’’ to read ‘‘III.A.1.b—
Pre-Approved Groups’’.
■ r. Amend Section III.A.1 of Chapter 2
titled ‘‘Pre-Approved Groups’’ by
removing the number ‘‘(1)’’ after
paragraph (4) but before paragraph (5).
■ s. Amend Section III.A.1 of Chapter 2
titled ‘‘Pre-Approved Groups’’ by
redesiganting paragraphs (1) through
(12) as 1. through 12.
■ t. Amend Section III.A.3 of Chapter 2
by removing the bullet after ‘‘Members
of the Shalom Congregation in Chevy
Chase, Maryland’’ but before the
sentence beginning with ‘‘Regular
members of the Corporate Executives
Association’’.
■ u. Revise the heading of Section III.B
of Chapter 2 titled ‘‘Organizational
Restructuring’’ to read ‘‘III.B.2—
Organizational Restructuring’’.
■ v. Revise the heading of Section III.B
of Chapter 2 titled ‘‘Documentation
Requirements’’ to read ‘‘III.B.4—
Documentation Requirements’’.
■ w. Revise the heading of Section
III.C.C.2 of Chapter 2 to read ‘‘III.C.2—
■
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1605
Office of Credit Union Resources and
Expansion Director Decision’’.
■ x. Revise the heading of Section III.D
of Chapter 2 titled ‘‘Emergency
Mergers’’ to read ‘‘III.D.2—Emergency
Mergers’’.
■ y. Revise the heading of Section III.D
of Chapter 2 titled ‘‘Purchase and
Assumption (P&A) to read ‘‘III.D.3—
Purchase and Assumption (P&A)’’.
■ z. Revise the heading of Section III.E
of Chapter 2 titled ‘‘Organizational
Restructuring’’ to read ‘‘III.E.2—
Organizational Restructuring’’.
■ aa. Amend Section III.H of Chapter 2
by removing the bullet after ‘‘Members
of the immediate family or household’’
but before the sentence beginning
‘‘Honorably discharged veterans’’.
■ bb. Revise the heading of Section IV.B
of Chapter 2 titled ‘‘Documentation
Requirements’’ to read ‘‘IV.B.3—
Documentation Requirements’’.
■ cc. Revise the heading of Section IV.B
of Chapter 2 titled ‘‘Restructuring’’ to
read ‘‘IV.B.4—Restructuring’’.
■ dd. Amend Section IV.C.4 of Chapter
2 by removing the bullet after ‘‘Specific
reasons for the action’’ but before
‘‘Options to consider, if appropriate, for
gaining approval’’.
■ ee. Revise the heading of Section IV.D
of Chapter 2 titled ‘‘Voluntary Mergers’’
to read ‘‘IV.D.1—Voluntary Mergers’’.
■ ff. Revise the heading of Section IV.D
of Chapter 2 titled ‘‘Emergency
Mergers’’ to read ‘‘IV.D.3—Emergency
Mergers’’.
■ gg. Revise the heading of Section IV.D
of Chapter 2 titled ‘‘Purchase and
Assumption (P&A)’’ to read ‘‘IV.D.4—
Purchase and Assumption (P&A)’’.
■ hh. Revise the heading of Section IV.E
of Chapter 2 titled ‘‘Overlap Issues as a
Result of Organizational Restructuring’’
to read ‘‘IV.E.2—Overlap Issues as a
Result of Organizational Restructuring’’.
■ ii. Revise section V.A.2 of Chapter 2.
■ jj. Revise the heading of Section V.A
of Chapter 2 titled ‘‘Business Plan
Requirements for a Community Credit
Union’’ to read ‘‘V.A.4—Business Plan
Requirements for a Community Credit
Union’’.
■ kk. Revise the heading of Section V.A
of Chapter 2 titled ‘‘Ample Community
Fields of Membership’’ to read ‘‘V.A.7—
Ample Community Fields of
Membership’’.
■ ll. Revise the heading of Section V.D
of Chapter 2 titled ‘‘Mergers’’ to read
‘‘V.D.1—Mergers’’.
■ mm. Revise the heading of Section
V.D of Chapter 2 titled ‘‘Emergency
Mergers’’ to read ‘‘V.D.2—Emergency
Mergers’’.
■ nn. Revise the heading of Section V.D
of Chapter 2 titled ‘‘Purchase and
Assumption (P&A)’’ to read ‘‘V.D.3—
Purchase and Assumption (P&A)’’.
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oo. Revise the heading of Section V.E
of Chapter 2 titled ‘‘Exclusionary
Clauses’’ to read ‘‘V.E.2—Exclusionary
Clauses’’.
■ pp. Revise the heading of Section II.B
of Chapter 3 to read ‘‘II.B—Special
Programs’’.
■ qq. Revise the heading of Section II.C
of Chapter 3 to read ‘‘II.C—Low-Income
Documentation’’.
■ rr. Revise the heading of Section II.D
of Chapter 3 to read ‘‘II.D—Third-Party
Assistance’’.
■ ss. Revise the heading of Section II.E
of Chapter 3 to read ‘‘II.E—Special Rules
for Low-Income Federal Credit Unions’’.
■ tt. Revise Section III.A of Chapter 3 by
removing ‘‘12’’ and adding in its place
‘‘12 U.S.C. 1759(c)(2)’’ in the first
paragraph and removing ‘‘U.S.C.
1759(c)(2).’’ from the second paragraph.
■ uu. Revise the heading of Section
III.B.2 of Chapter 3 titled ‘‘Economic
Distress Criteria’’ to read ‘‘III.B.2.a—
Economic Distress Criteria’’.
■ vv. Amend Section III.B.2 of Chapter
3 titled ‘‘Economic Distress Criteria’’ by
removing the bullet after ‘‘Other
Criterion. Any other economic distress
criterion the CDFI Fund may adopt in
the future.’’ but before the sentence ‘‘Id.
§ 1805.201(b)(3)(ii)(D)(1), (2)(ii) and (3)
(2008).’’
■ ww. Revise the heading of Section
II.C.4 of Chapter 4 to read ‘‘II.C.4—
Notification’’.
■ xx. Revise the heading of Section II.D
of Chapter 4 titled ‘‘Application for a
Federal Charter’’ to read ‘‘II.D.2—
Application for a Federal Charter’’.
■ yy. Revise the heading of Section II.E
of Chapter 4 titled ‘‘Effective Date of
Conversion’’ to read ‘‘II.E.1—Effective
Date of Conversion’’.
■ zz. Revise the heading of Section II.E
of Chapter 4 titled ‘‘Reports to NCUA’’
to read ‘‘II.E.5—Reports to NCUA’’.
■ aaa. Revise the heading of Section
III.D.UA of Chapter 4 to read ‘‘III.D.5—
Disapproval’’.
The revision reads as follows:
■
Appendix B to Part 701—Chartering
and Field of Membership Manual
*
*
*
*
*
V.A.2—Definition of Well-Defined Local
Community and Rural District
In addition to the documentation
requirements in Chapter 1 to charter a credit
union, a community credit union applicant
must provide additional documentation
addressing the proposed area to be served
and community service policies.
An applicant has the burden of
demonstrating to NCUA that the proposed
community area meets the statutory
requirements of being: (1) Well-defined, and
(2) a local community or rural district.
For an applicant seeking a community
charter for an area with multiple political
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jurisdictions with a population of 2.5 million
people or more, the Office of Credit Union
Resources and Expansion (CURE) shall: (1)
Publish a notice in the Federal Register
seeking comment from interested parties
about the proposed community and (2)
conduct a public hearing about this
application.
‘‘Well-defined’’ means the proposed area
has specific geographic boundaries.
Geographic boundaries may include a city,
township, county (single, multiple, or
portions of a county) or a political
equivalent, school districts, or a clearly
identifiable neighborhood.
The well-defined local community
requirement is met if:
• Single Political Jurisdiction—The area to
be served is a recognized Single Political
Jurisdiction, i.e., a city, county, or their
political equivalent, or any single portion
thereof.
• Statistical Area—A statistical area is all
or an individual portion of a Core-Based
Statistical Area (CBSA) designated by the
U.S. Census Bureau, including a
Metropolitan Statistical Area. To meet the
well-defined local community requirement,
the CBSA or a portion thereof, must be
contiguous and have a population of 2.5
million or less people. An individual portion
of a statistical area need not conform to
internal boundaries within the area, such as
metropolitan division boundaries within a
Core-Based Statistical Area.
• Compelling Evidence of Common
Interests or Interaction—In lieu of a statistical
area as defined above, this option is available
when a credit union seeks to initially charter
a community credit union; to expand an
existing community; or to convert to a
community charter. Under this option, the
credit union must demonstrate that the areas
in question are contiguous and further
demonstrate a sufficient level of common
interests or interaction among area residents
to qualify the area as a local community. For
that purpose, an applicant must submit for
NCUA approval a narrative, supported by
appropriate documentation, establishing that
the area’s residents meet the requirements of
a local community.
To assist a credit union in developing its
narrative, Appendix 6 of this Manual
identifies criteria a narrative should address,
and which NCUA will consider in deciding
a credit union’s application to: initially
charter a community credit union; to expand
an existing community, including by an
adjacent area addition; or to convert to a
community charter. In any case, the credit
union must demonstrate, through its business
and marketing plans, its ability and
commitment to serve the entire community
for which it seeks NCUA approval.
An area of any geographic size qualifies as
a Rural District if:
• The proposed district has well-defined,
contiguous geographic boundaries;
• The total population of the proposed
district does not exceed 1,000,000.
• Either more than 50% of the proposed
district’s population resides in census blocks
or other geographic units that are designated
as rural by either the Consumer Financial
Protection Bureau or the United States
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Sfmt 4700
Census Bureau, OR the district has a
population density of 100 persons or fewer
per square mile; and
• The boundaries of the well-defined rural
district do not exceed the outer boundaries
of the states that are immediately contiguous
to the state in which the credit union
maintains its headquarters (i.e., not to exceed
the outer perimeter of the layer of states
immediately surrounding the headquarters
state).
The common bond affinity groups that
apply to well-defined local communities also
apply to Rural Districts.
The requirements in Chapter 2, Sections
V.A.4 through V.G. also apply to a credit
union that serves a rural district.
*
*
*
*
*
PART 702—CAPITAL ADEQUACY
9. The authority citation for part 702
is revised to read as follows:
■
Authority: 12 U.S.C. 1766(a), 1790d.
10. In part 702, revise all references to
‘‘federally-insured’’ to read ‘‘federally
insured’’.
■
§ 702.504
[Amended]
11. In § 702.504(b)(4), revise the
citation ‘‘§ 702.306(c)’’ to read
‘‘§ 702.506(c)’’.
■
PART 703—INVESTMENT AND
DEPOSIT ACTIVITIES
12. The authority citation for part 703
continues to read as follows:
■
Authority: 12 U.S.C. 1757(7), 1757(8),
1757(15).
§ 703.2
[Amended]
13. In § 703.2, in the definition of
‘‘Associated personnel,’’ remove
‘‘National Association of Securities
Dealers (NASD)’’ or ‘‘NASD’’ and add in
their place ‘‘Financial Industry
Regulatory Authority (FINRA)’’ or
‘‘FINRA’’ wherever they appear.
■
§ 703.8
[Amended]
14. In § 703.8(b)(2) remove ‘‘National
Association of Securities Dealers’’ and
add in its place ‘‘Financial Industry
Regulatory Authority’’.
■
PART 704—CORPORATE CREDIT
UNIONS
15. The authority citation for part 704
continues to read as follows:
■
Authority: 12 U.S.C. 1766(a), 1781, 1789.
§ 704.1
[Amended]
16. In § 704.1(a) remove ‘‘Non
federally insured corporate credit
unions’’ and add in its place
‘‘Noninsured corporate credit unions’’.
■
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Federal Register / Vol. 84, No. 24 / Tuesday, February 5, 2019 / Rules and Regulations
PART 705—COMMUNITY
DEVELOPMENT REVOLVING LOAN
FUND ACCESS FOR CREDIT UNIONS
17. The authority citation for part 705
continues to read as follows:
■
Authority: 12 U.S.C. 1756, 1757(5)(D), and
(7)(I), 1766, 1782, 1784, 1785 and 1786.
18. In part 705, revise all references to
‘‘non-federally insured, state-chartered
credit union’’ and ‘‘non-federally
insured state-chartered credit union’’ to
read ‘‘noninsured credit union’’.
■
PART 708a—BANK CONVERSIONS
AND MERGERS
19. The authority citation for part
708a continues to read as follows:
■
Authority: 12 U.S.C. 1766, 1785(b), and
1785(c).
20. Amend § 708a.101 by revising the
definitions of ‘‘Credit union,’’ ‘‘Federal
banking agencies,’’ and ‘‘Mutual savings
bank and savings association’’ to read as
follows:
■
§ 708a.101
Definitions.
*
*
*
*
*
Credit union has the same meaning as
insured credit union in section 101 of
the Federal Credit Union Act (12 U.S.C.
1752).
Federal banking agencies have the
same meaning as in section 3 of the
Federal Deposit Insurance Act (12
U.S.C. 1813).
*
*
*
*
*
Mutual savings bank and savings
association have the same meaning as in
section 3 of the Federal Deposit
Insurance Act (12 U.S.C. 1813).
*
*
*
*
*
§ 708a.104
[Amended]
22. Amend § 708a.104 as follows:
a. In paragraph (a), remove ‘‘§ 708a.3’’
and add in its place ‘‘§ 708a.103’’; and
■ b. In paragraph (f)(6), remove
‘‘§ 708a.4(f)’’ and add in its place
‘‘§ 708a.104(f)’’.
■
■
§ 708a.105
[Amended]
24. In § 708a.106(b), remove
‘‘§ 708a.3’’ and add in its place
‘‘§ 708a.103’’.
■
16:04 Feb 04, 2019
Subpart C—[Amended]
25. In § 708a.107(b), by remove
‘‘§ 708a.5’’ and add in its place
‘‘§ 708a.105’’.
■
§ 708a.108
[Amended]
§ 708a.110
[Amended]
27. Amend § 708a.110 as follows:
■ a. In paragraph (a), remove ‘‘§ 708a.8’’
and add in its place ‘‘§ 708a.108’’ and
remove ‘‘§ 708a.9’’ and add in its place
‘‘§ 708a.109’’.
■ b. In paragraph (b), remove ‘‘§ 708a.8’’
and add in its place ‘‘§ 708a.108’’.
■
§ 708a.113
[Amended]
28. In § 708a.113(d)(3), remove
‘‘§ 708a.12 of this part’’ and add in its
place ‘‘§ 708a.112’’.
■
§ 708a.305
[Amended]
29. Amend § 708a.305 as follows:
■ a. In paragraph (c)(3), remove the
phrase ‘‘because of’’ the second time it
appears; and
■ b. In paragraph (c)(4) remove ‘‘; and’’
and add in its place a period.
■
§ 708a.312
30. In § 708a.312(a), revise ‘‘Federally
insured State chartered credit unions’’
to read ‘‘Federally insured statechartered credit unions’’.
PART 708b—MERGERS OF INSURED
CREDIT UNIONS INTO OTHER CREDIT
UNIONS; VOLUNTARY TERMINATION
OR CONVERSION OF INSURED
STATUS
31. The authority citation for part
708b continues to read as follows:
■
Authority: 12 U.S.C. 1752(7), 1766, 1785,
1786, 1789.
Jkt 247001
33. In part 708b, revise all references
to ‘‘federally-insured’’, ‘‘Federallyinsured’’, ‘‘nonfederally-insured’’, and
‘‘Nonfederally-insured’’ to read
‘‘federally insured’’, ‘‘Federally
insured’’, ‘‘noninsured’’, and
‘‘Nonfederally insured’’ respectively.
■
34. Amend § 708b.2 by adding
introductory text to read as follows:
■
*
36. In § 708b.303(c), remove the word
‘‘and’’ and add in its place the word
‘‘an’’ in the first sentence of Item 5 of
the form Certification of Vote.
■
PART 709—INVOLUNTARY
LIQUIDATION OF FEDERAL CREDIT
UNIONS AND ADJUDICATION OF
CREDITOR CLAIMS INVOLVING
FEDERALLY INSURED CREDIT
UNIONS IN LIQUIDATION
37. The authority citation for part 709
continues to read as follows:
■
Authority: 12 U.S.C. 1757, 1766, 1767,
1786(h), 1787, 1788, 1789, 1789a.
38. In part 709, revise all references to
‘‘federally-insured’’ to read ‘‘federally
insured’’.
■
§ 709.4
[Amended]
39. In § 709.4(c)(10), remove ‘‘statechartered federally insured credit
union’’ and add in its place ‘‘federally
insured state-chartered credit union’’.
■
PART 710—VOLUNTARY LIQUIDATION
Frm 00009
Fmt 4700
40. The authority citation for part 710
continues to read as follows:
■
Authority: 12 U.S.C. 1766(a), 1786, and
1787.
41. In part 710, revise all references to
‘‘Federally insured state credit union’’
or ‘‘Federally insured state credit
unions’’ to read ‘‘Federally insured
state-chartered credit union’’ or
‘‘Federally insured state-chartered credit
unions’’, respectively.
■
PART 715—SUPERVISORY
COMMITTEE AUDITS AND
VERIFICATIONS
42. The authority citation for part 715
continues to read as follows:
■
Authority: 12 U.S.C. 1761(b), 1761d,
1782(a)(6).
§ 715.4
[Amended]
43. In § 715.4(c), remove the phrase
‘‘NCUA form’’ and add in its place the
phrase ‘‘NCUA Form’’.
■
§ 715.10
[Amended]
44. In § 715.10(a), remove the phrase
‘‘National Credit Union Administration
(‘‘NCUA’’)’’ and add in its place the
term ‘‘NCUA’’.
■
Definitions.
As used in this part:
*
*
*
*
PO 00000
[Amended]
[Amended]
■
§ 708b.2
35. Amend Subpart C of part 708b by
revising all references to ‘‘$100,000’’ to
read ‘‘$250,000’’ wherever they occur.
■
§ 708b.303
26. In § 708a.108(b), by remove
‘‘§ 708a.7’’ and add in its place
‘‘§ 708a.107’’ and remove ‘‘§ 708a.10’’
and add in its place ‘‘§ 708a.110.’’
■
32. Revise the heading of part 708b to
read as set forth above.
23. Amend § 708a.105 as follows:
a. In paragraph (a)(1), remove
‘‘§§ 708a.3 and 708a.4’’ and add in its
place ‘‘§§ 708a.103 and 708a.104’’.
■ b. In paragraph (a)(3), remove
‘‘§ 708a.5(a)’’ and add in its place
‘‘§ 708a.105(a)’’.
■ c. In paragraph (b), remove ‘‘§ 708a.6’’
and add in its place ‘‘§ 708a.106’’.
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[Amended]
■
[Amended]
■
■
§ 708a.106
§ 708a.107
1607
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Federal Register / Vol. 84, No. 24 / Tuesday, February 5, 2019 / Rules and Regulations
PART 717—FAIR CREDIT REPORTING
45. The authority citation for part 717
is revised to read as follows:
§ 725.3
■
■
[Amended]
56. In § 725.3(a)(2), remove footnote 1.
§ 725.4
[Amended]
Authority: 12 U.S.C. 1752(5), 1757, 1765,
1766, 1781, 1782, 1787, 1789; title V, Pub. L.
109–351; 120 Stat. 1966.
65. In part 745:
a. Revise all references to ‘‘federallyinsured’’ to read ‘‘federally insured’’;
and
■ b. Revise all references to ‘‘state credit
union’’ or ‘‘state credit unions’’ to read
‘‘state-chartered credit union’’ or ‘‘statechartered credit unions’’, respectively.
■
Subpart A—[Removed and Reserved]
57. In § 725.4, remove footnote 3 from
paragraph (a)(2) and, in paragraph (f),
add the word ‘‘or’’ between the words
‘‘chartered’’ and ‘‘within’’.
■
46. Remove and reserve subpart A,
consisting of §§ 717.1 through 717.3.
PART 741—REQUIREMENTS FOR
INSURANCE
Subpart C—[Removed and Reserved]
■
58. The authority citation for part 741
continues to read as follows:
■
Authority: 12 U.S.C. 1757, 1766(a), 1781–
1790, and 1790d; 31 U.S.C. 3717.
§ 745.202
Authority: 12 U.S.C. 1766(a), 1789; 15
U.S.C. 1681m(e).
■
47. Remove and reserve subpart C,
consisting of §§ 717.20 through 717.28.
■
Subpart D—[Removed and Reserved]
48. Remove and reserve subpart D,
consisting of §§ 717.30 through 717.32.
■
Subpart E—[Removed and Reserved]
49. Remove and reserve subpart E,
consisting of §§ 717.40 through 717.43.
■
Appendix C—[Removed and Reserved]
50. Remove and reserve Appendix C
to part 717.
§ 741.3
■
51. The authority citation for part 723
continues to read as follows:
■
Authority: 12 U.S.C. 1756, 1757, 1757A,
1766, 1785, 1789.
PART 725—NATIONAL CREDIT UNION
ADMINISTRATION CENTRAL
LIQUIDITY FACILITY
53. The authority citation for part 725
is revised to read as follows:
■
Authority: 12 U.S.C. 1795f(a)(2).
54. In part 725:
■ a. Revise all references to ‘‘federallychartered’’ or ‘‘federally-insured’’ to
read ‘‘federally chartered’’ and
‘‘federally insured’’, respectively; and
■ b. Revise all references to ‘‘central
credit union’’ or ‘‘central credit unions’’
to read ‘‘corporate credit union’’ or
‘‘corporate credit unions’’, respectively.
[Amended]
55. In § 725.2(h)(2), remove ‘‘or
Federal Savings and Loan Insurance
Corporation’’.
60. In § 741.3(b)(5), remove
‘‘Appendix B’’ and add in its place
‘‘Appendix A’’.
■ 61. Revise § 741.8(c) to read as
follows:
§ 741.8 Purchase of assets and
assumption of liabilities.
*
52. In part 723, revise all references to
‘‘federally insured, state-chartered credit
union’’ or ‘‘federally insured, statechartered credit unions’’ to read
‘‘federally insured state-chartered credit
union’’ or ‘‘federally insured statechartered credit unions’’, respectively.
■
§ 725.2
[Amended]
■
PART 723—MEMBER BUSINESS
LOANS; COMMERCIAL LENDING
■
59. In part 741:
a. Revise all references to ‘‘federallyinsured’’ and ‘‘nonfederally-insured’’ to
read ‘‘federally insured’’ and
‘‘nonfederally insured’’ respectively;
and
■ b. Revise all references to ‘‘federally
insured, state-chartered’’ or ‘‘federallyinsured state-chartered’’ to read
‘‘federally insured state-chartered’’.
■
■
*
*
*
*
(c) A credit union seeking approval
under paragraph (a) of this section must
submit a request for approval to the
appropriate regional director. The
request must state the nature of the
transaction and include copies of all
relevant transaction documents. The
regional director will approve or
disapprove the request as soon as
possible depending on the complexity
of the proposed transaction. Credit
unions should submit a request for
approval in sufficient time to close the
transaction.
§ 741.201
[Amended]
62. In § 741.201(a), remove ‘‘part 713
of this chapter’’ and add ‘‘§§ 713.3,
713.5, and 713.6’’ in its place.
■
§ 741.219
[Amended]
63. In § 741.219(b), remove the phrase
‘‘or the Director of the Office of National
Examinations and Supervision.’’
■
PART 745—SHARE INSURANCE AND
APPENDIX
■
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64. The authority citation for part 745
continues to read as follows:
■
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■
66. Revise § 745.202(b) to read as
follows:
Judicial review.
*
*
*
*
*
(b) Failure to file an appeal with
regard to an initial determination, or a
decision rendered on a request for
reconsideration within the applicable
time periods shall constitute a failure by
the accountholder to exhaust available
administrative remedies and, due to
such failure, any objections to the initial
determination or request for
reconsideration shall be deemed to be
waived and such determination shall be
deemed to have been accepted by, and
binding upon, the accountholder.
*
*
*
*
*
PART 746—APPEALS PROCEDURES
Subpart A—Procedures for Appealing
Material Supervisory Determinations
67. The authority citation for part 746,
subpart A, continues to read as follows:
■
Authority: 12 U.S.C. 1766, 1787, and 1789.
68. Revise § 746.106(a) to read as
follows:
■
§ 746.106 Procedures for requesting
review by the Director of the Office of
Examination and Insurance.
(a) Request for review. Prior to filing
an appeal with the Committee pursuant
to § 746.107, but after receiving a
written decision by the appropriate
program office in response to a request
for reconsideration pursuant to
§ 746.105, an insured credit union may
make a written request for review by the
Director of the Office of Examination
and Insurance of the program office’s
material supervisory determination.
Such a request must be made within 30
calendar days after receiving a final
decision on reconsideration from the
appropriate program office. A request
for review must be in writing and filed
with the Secretary of the Board,
National Credit Union Administration,
1775 Duke Street, Alexandria, VA
22314–3428.
*
*
*
*
*
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Federal Register / Vol. 84, No. 24 / Tuesday, February 5, 2019 / Rules and Regulations
PART 747—ADMINISTRATIVE
ACTIONS, ADJUDICATIVE HEARINGS,
RULES OF PRACTICE AND
PROCEDURE, AND INVESTIGATIONS
69. The authority citation for part 747
continues to read as follows:
■
PART 749—RECORDS
PRESERVATION PROGRAM AND
APPENDICES—RECORD RETENTION
GUIDELINES; CATASTROPHIC ACT
PREPAREDNESS GUIDELINES
74. The authority citation for part 749
continues to read as follows:
■
Authority: 12 U.S.C. 1766, 1782, 1784,
1785, 1786, 1787, 1790a, 1790d; 15 U.S.C.
1639e; 42 U.S.C. 4012a; Pub. L. 101–410;
Pub. L. 104–134; Pub. L. 109–351; Pub. L.
114–74.
Authority: 12 U.S.C. 1766, 1783 and 1789;
15 U.S.C. 7001(d).
70. In part 747:
a. Revise all references to ‘‘federallyinsured’’ to read ‘‘federally insured’’;
and
■ b. Revise all references to ‘‘state credit
union’’ or ‘‘state credit unions’’ to read
‘‘state-chartered credit union’’ or ‘‘statechartered credit unions’’, respectively.
PART 750—GOLDEN PARACHUTE
AND INDEMNIFICATION PAYMENTS
75. In part 749, revise all references to
‘‘federally-insured’’ to read ‘‘federally
insured’’.
■
■
■
76. The authority citation for part 750
continues to read as follows:
■
Authority: 12 U.S.C. 1786(t).
PART 748—SECURITY PROGRAM,
REPORT OF SUSPECTED CRIMES,
SUSPICIOUS TRANSACTIONS,
CATASTROPHIC ACTS AND BANK
SECRECY ACT COMPLIANCE
77. In part 750, revise all references to
‘‘Federally insured’’ to read ‘‘federally
insured’’.
■
71. The authority citation for part 748
continues to read as follows:
■
Authority: 12 U.S.C. 1766(a), 1786(q); 15
U.S.C. 6801–6809; 31 U.S.C. 5311 and 5318.
PART 760—LOANS IN AREAS HAVING
SPECIAL FLOOD HAZARDS
78. Revise the authority citation for
part 760 to read as follows:
■
72. In part 748, revise all references to
‘‘federally-insured’’ to read ‘‘federally
insured’’.
Authority: 12 U.S.C. 1757, 1784(e), 1789;
42 U.S.C. 4012a, 4104a, 4104b, 4106, and
4128.
Appendix A to Part 748 [Amended]
PART 790—DESCRIPTION OF NCUA;
REQUESTS FOR AGENCY ACTION
■
73. Amend Appendix A by removing
‘‘G. Implement the Standards’’ from the
table of contents under section III.
■
79. The authority citation for part 790
continues to read as follows:
■
1609
Authority: 12 U.S.C. 1766, 1789, 1795f.
80. In § 790.2, add paragraph (b)(18)
and revise paragraph (c) to read as
follows:
■
§ 790.2 Central and field office
organization.
*
*
*
*
*
(b) * * *
(18) The Office of Business
Innovation. The Office of Business
Innovation (OBI) serves as a central
platform and facilitator for critical
agency stakeholders to shape achievable
solutions and capabilities to manage
evolving business demands. This office
manages the agency’s Information
Technology modernization and business
process optimization efforts, from the
internal and external business
stakeholder perspective, of mission
related systems that enable the NCUA’s
core mission of regulating and
supervising credit unions. Additionally,
OBI provides enterprise information
security support in partnership with the
Office of the Chief Information Officer
(OCIO) and serves as a center point for
enterprise data strategy and governance.
*
*
*
*
*
(c) Field Offices. NCUA’s programs
are conducted through Regional Offices
and the Office of National Examinations
and Supervision.
(1) Regional Offices. (i) The NCUA
has three Regional Offices:
Region name
Area within region
Office address
Eastern ........................
Connecticut, Delaware, District of Columbia, Maine, Maryland, Massachusetts, Michigan, New Hampshire, New
Jersey, New York, Ohio, Pennsylvania, Rhode Island,
Vermont, Virginia, and West Virginia.
Alabama, Arkansas, Florida, Georgia, Indiana, Kentucky,
Louisiana, Mississippi, North Carolina, Oklahoma, Puerto Rico, South Carolina, Tennessee, Texas, and Virgin
Islands.
Alaska, American Samoa, Arizona, California, Colorado,
Guam, Idaho, Illinois, Iowa, Kansas, Minnesota, Missouri, Montana, Nebraska, Nevada, New Mexico, North
Dakota, Oregon, South Dakota, Nevada, Utah, Washington, Wisconsin, and Wyoming.
1900 Duke Street, Suite 300, Alexandria, VA 22314–3498.
Southern ......................
Western .......................
(ii) A Regional Director is in charge of
each Regional Office. The Regional
Director manages NCUA’s programs in
the Region assigned in accordance with
established policies. A Regional
Director’s duties include: Directing
examination and supervision programs
to promote and assure safety and
soundness; assisting other offices in
chartering and insurance issues;
managing regional resources to meet
program objectives in the most
economical and practical manner; and
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4807 Spicewood Springs Road, Suite 5200, Austin, TX
78759–8490.
1230 West Washington Street, Suite 301, Tempe, AZ
85281.
maintaining good public relations with
public, private, and governmental
organizations, federal credit union
officials, credit union organizations, and
other groups which have an interest in
credit union matters in the assigned
region. The Regional Director maintains
liaison and cooperation with other
regional offices of federal departments
and agencies, state agencies, city and
county officials, and other governmental
units that affect credit unions. The
Regional Director is aided by Associate
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Regional Directors. Each region is
divided into examiner districts, each
assigned to a Supervisory Credit Union
Examiner; groups of examiners are
directed by a Supervisory Credit Union
Examiner, each of whom in turn reports
directly to one of the Associate Regional
Directors.
(2) Office of National Examinations
and Supervision. Similar to a Regional
Director, the Director of the Office of
National Examinations and Supervision
manages NCUA’s supervisory program
E:\FR\FM\05FER1.SGM
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Federal Register / Vol. 84, No. 24 / Tuesday, February 5, 2019 / Rules and Regulations
over credit unions; however, it oversees
the activities for corporate credit unions
and of natural person credit unions with
assets totaling $10 billion or more, in
accordance with established policies.
The Director’s duties include directing
insurance, examination, and
supervision programs to promote and
assure safety and soundness; managing
office resources to meet program
objectives in the most economical and
practical manner; and maintaining good
public relations with public, private and
governmental organizations, credit
union officials, credit union
organizations, and other groups which
have an interest in credit union matters
in the assigned office. The Director
maintains liaison and cooperation with
other regional offices of federal
departments and agencies, state
agencies, and other governmental units
that affect credit unions. The Director is
aided by a Deputy Director. Staff
working in the office report to the
Director of Supervision, who in turn
reports to the Deputy Director. Field
staff is divided into examiner districts,
each assigned to a National Field
Supervisor, each of whom in turn
reports directly to the Deputy Director.
PART 791—RULES OF NCUA BOARD
PROCEDURE; PROMULGATION OF
NCUA RULES AND REGULATIONS;
PUBLIC OBSERVATION OF NCUA
BOARD MEETINGS
81. The authority citation for part 791
continues to read as follows:
■
Authority: 12 U.S.C. 1766, 1789 and 5
U.S.C. 552b.
§ 791.8
[Amended]
82. In § 791.8(b)(4), revise ‘‘statechartered federally-insured credit
union’’ to read ‘‘federally insured statechartered credit union’’.
■
PART 792—REQUESTS FOR
INFORMATION UNDER THE FREEDOM
OF INFORMATION ACT AND PRIVACY
ACT, AND BY SUBPOENA; SECURITY
PROCEDURES FOR CLASSIFIED
INFORMATION
83. The authority citation for part 792
continues to read as follows:
■
Authority: 12 U.S.C. 1766, 1789 and 5
U.S.C. 552b.
§ 792.30
[Amended]
84. In § 792.30, revise ‘‘federallyinsured’’ to read ‘‘federally insured’’.
■
[FR Doc. 2018–27472 Filed 2–4–19; 8:45 am]
BILLING CODE 7535–01–P
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ENVIRONMENTAL PROTECTION
AGENCY
40 CFR Part 52
[EPA–R08–OAR–2018–0616; FRL–9988–35–
Region 8]
Approval and Promulgation of
Implementation Plans; North Dakota;
Revisions to Infrastructure
Requirements for All National Ambient
Air Quality Standards; Carbon
Monoxide (CO); Lead (Pb); Nitrogen
Dioxide (NO2); Ozone (O3); Particle
Pollution (PM2.5, PM10); Sulfur Dioxide
(SO2); Recodification
Environmental Protection
Agency (EPA).
ACTION: Final rule.
AGENCY:
The Environmental Protection
Agency (EPA) is approving revisions to
the North Dakota State Implementation
Plan (SIP) for all National Ambient Air
Quality Standards (NAAQS) for the
purposes of transferring authority from
the North Dakota Department of Health
(NDDH) to the North Dakota Department
of Environmental Quality (NDDEQ). We
are approving the related recodification
of the portions of North Dakota’s Air
Pollution Rules that have been
previously approved into the SIP. The
EPA is taking this action pursuant to
section 110 of the Clean Air Act (CAA).
DATES: This rule is effective on March
15, 2019.
ADDRESSES: The EPA has established a
docket for this action under Docket ID
No. EPA–R08–OAR–2018–0616. All
documents in the docket are listed on
the https://www.regulations.gov website.
Although listed in the index, some
information is not publicly available,
e.g., CBI or other information whose
disclosure is restricted by statute.
Certain other material, such as
copyrighted material, is not placed on
the internet and will be publicly
available only in hard copy form.
Publicly available docket materials are
available through https://
www.regulations.gov, or please contact
the person identified in the FOR FURTHER
INFORMATION CONTACT section for
additional availability information.
FOR FURTHER INFORMATION CONTACT: Kate
Gregory, Air Program, EPA, Region 8,
Mailcode 8P–AR, 1595 Wynkoop Street,
Denver, Colorado 80202–1129, (303)
312–6175, gregory.kate@epa.gov.
SUPPLEMENTARY INFORMATION:
Throughout this document ‘‘we,’’ ‘‘us,’’
and ‘‘our’’ means the EPA.
SUMMARY:
I. Background
The background for this action is
discussed in detail in our October 10,
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2018 proposal (83 FR 50865). In that
document we proposed to approve
revisions to the North Dakota SIP for all
NAAQS for the purposes of transferring
authority from the NDDH to the
NDDEQ. We also proposed to approve
the related recodification of the portions
of North Dakota’s Air Pollution Rules
that have been previously approved into
the SIP.
Table 1 shows the North Dakota air
pollution rules that have been
recodified in the North Dakota
Administrative Code (NDAC) and
indicates their old and new references
in the SIP.
TABLE 1—NDAC REFERENCES: PRE/
POST RECODIFICATION
Old reference
New reference
33–15–01
33–15–02
33–15–03
33–15–04
33–15–05
33–15–06
33–15–07
33–15–08
33–15–10
33–15–11
33–15–14
33–15–15
33–15–17
33–15–18
33–15–19
33–15–20
33–15–23
33–15–25
33.1–15–01
33.1–15–02
33.1–15–03
33.1–15–04
33.1–15–05
33.1–15–06
33.1–15–07
33.1–15–08
33.1–15–10
33.1–15–11
33.1–15–14
33.1–15–15
33.1–15–17
33.1–15–18
33.1–15–19
33.1–15–20
33.1–15–23
33.1–15–25
We received no comments on our
proposal and this rule will be finalized
as proposed without revisions.
II. Final Action
We are approving the August 18, 2018
revisions to the North Dakota
infrastructure SIP, for all NAAQS, for
the purposes of the transfer of authority
from NDDH to the NDDEQ. We are also
approving the corresponding
recodification of the entire SIP. For the
basis of our approval, please refer to the
October 10, 2018 proposal (83 FR
50865).
All revisions to the SIP program will
be federally enforceable as of the
effective date of today’s approval of the
respective revision and recodification of
that program. Based on the process
outlined in our proposal and our
subsequent conversations with the
State, we have determined that our
approval of the SIP program should
become fully effective under federal law
on March 15, 2019. The State plans to
rely on the date when the EPA signs the
final notice for purposes of notifying the
state legislature that the EPA has
approved these revisions, which will
E:\FR\FM\05FER1.SGM
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]]>Agencies
[Federal Register Volume 84, Number 24 (Tuesday, February 5, 2019)]
[Rules and Regulations]
[Pages 1601-1610]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-27472]
=======================================================================
-----------------------------------------------------------------------
NATIONAL CREDIT UNION ADMINISTRATION
12 CFR Parts 700, 701, 702, 703, 704, 705, 708a, 708b, 709, 710,
715, 717, 723, 725, 741, 745, 746, 747, 748, 749, 750, 760, 790,
791, and 792
RIN 3133-AE61
Technical Amendments
AGENCY: National Credit Union Administration (NCUA).
ACTION: Final rule.
-----------------------------------------------------------------------
SUMMARY: The NCUA Board (Board) is issuing a final rule to make
technical amendments to various provisions of the NCUA's regulations.
These technical amendments correct minor drafting errors and inaccurate
legal citations and remove unnecessary regulatory provisions no longer
applicable to federally insured credit unions (FICUs).
DATES: The final rule is effective on February 5, 2019.
FOR FURTHER INFORMATION CONTACT: Benjamin M. Litchfield, Staff
Attorney, Division of Regulations and Legislation, Office of General
Counsel, at 1775 Duke Street, Alexandria, VA 22314 or telephone: (703)
518-6540.
SUPPLEMENTARY INFORMATION:
I. Background
II. Legal Authority
III. Section-by-Section Analysis
IV. Regulatory Procedures
I. Background
Occasionally, the Board will issue a technical amendments rule
correcting minor drafting errors, inaccurate legal citations, or
superfluous regulatory provisions throughout the NCUA's regulations.
Because these changes are technical in nature, and do not affect FICUs
in a substantive manner, the Board issues these technical amendments
rules as final rules without notice and comment typically required by
the Administrative Procedure Act (APA).\1\ The NCUA's Office of General
Counsel has identified a number of minor drafting errors and inaccurate
citations and other technical problems throughout the NCUA's
regulations for correction. Accordingly, the Board is issuing this
final rule to address those matters.
---------------------------------------------------------------------------
\1\ 5 U.S.C. 553(b)(A), (B).
---------------------------------------------------------------------------
II. Legal Authority
The Board has the legal authority to issue this final rule pursuant
to its plenary rulemaking authority under the Federal Credit Union Act
(FCU Act) \2\ and its specific rulemaking authority under the various
acts the Board administers.\3\
---------------------------------------------------------------------------
\2\ See 12 U.S.C. 1766, 1789.
\3\ See e.g., 15 U.S.C. 6801(b) (requiring the NCUA and the
federal banking agencies to establish standards for the
administrative, technical, and physical safeguards to protect
nonpublic personal information).
---------------------------------------------------------------------------
III. Section-by-Section Analysis
General Wording, Style, and Cross-Reference Changes
The final rule makes general wording, style, and cross-reference
changes throughout the NCUA's regulations. For example, the final rule
replaces the term ``federally-insured'' with ``federally insured''
wherever it appears to promote uniformity. Technical amendments of this
nature will apply throughout the NCUA's regulations. Therefore, the
preamble does not address these types of stylistic changes in the
section-by-section analysis below.
Section 700.2--Definitions
The final rule amends the definitions listed in Sec. 700.2 of the
NCUA's regulations. These definitions apply throughout chapter VII of
title 12 of the Code of Federal Regulations ``unless the context
indicates otherwise.'' \4\
---------------------------------------------------------------------------
\4\ 12 CFR 700.2.
---------------------------------------------------------------------------
Specifically, the final rule revises the definition of ``Act'' to
read ``Federal Credit Union Act (12 U.S.C. 1751, et seq.).'' The
current definition, which reads ``Federal Credit Union Act (73 Stat.
628, 84 Stat. 944, 12 U.S.C. 1751 through 1790),'' is inaccurate
because it fails to include Title III of the FCU Act.\5\ The revised
citation ensures that the definition of ``Act'' covers the entire FCU
Act.
---------------------------------------------------------------------------
\5\ Public Law 95-630, Tit. XVIII, sec. 1802, 92 Stat. 3641,
3719 (Nov. 10, 1978) (codified as 12 U.S.C. 1795 through 1795k).
---------------------------------------------------------------------------
The final rule also replaces the term ``Administration'' with
``NCUA'' to avoid confusion. The term ``Administration'' only appears
in Sec. 700.2 and one other section of the NCUA's regulations. The
final rule makes conforming amendments to the definitions of ``Regional
Director'' and ``Regional Office.''
[[Page 1602]]
Moreover, the final rule amends the definition of ``credit union''
to conform to the definition in the FCU Act.\6\ Because several of the
NCUA's regulations refer to ``federally insured credit unions,''
``insured credit unions,'' or otherwise reference the insured status of
a credit union, the final rule adds definitions for ``federally insured
credit union'' and ``noninsured credit union'' to clarify those terms
where they are not separately defined in specific rules. These
definitions mirror the definitions of those terms in the FCU Act.\7\
---------------------------------------------------------------------------
\6\ See 12 U.S.C. 1752(6).
\7\ See 12 U.S.C. 1752(7).
---------------------------------------------------------------------------
Finally, the final rule combines the definitions of ``paid-in and
unimpaired capital and surplus'' and ``unimpaired capital and surplus''
to avoid repetition. Section 700.2 currently defines ``unimpaired
capital and surplus'' as ``the same as `paid-in and unimpaired capital
and surplus,' as defined in paragraph (f) of this section.'' The final
rule replaces these separate definitions with a single definition that
reads ``paid-in and unimpaired capital and surplus or unimpaired
capital and surplus.''
Section 701.6--Fees Paid by Federal Credit Unions
The final rule replaces references to ``the Administration'' with
``NCUA'' in Sec. 701.6 and simplifies the regulatory text. This
provision governs the assessment of operating fees on federal credit
unions (FCUs) and the imposition of administrative fees and interest
for delinquent payments.\8\ While the final rule modernizes the
language of this section, the substantive requirements remain the same.
---------------------------------------------------------------------------
\8\ See 12 CFR 701.6(a).
---------------------------------------------------------------------------
Appendix B to Part 701--Chartering and Field of Membership Manual
The final rule makes technical amendments to the Chartering and
Field of Membership Manual (Chartering Manual). The Board recently
issued two final rules related to FCU chartering and field of
membership. The Board published a final rule in the Federal Register on
December 7, 2016 (``FOM I'') that, in relevant part, expands the
Chartering Manual's definitions of ``well-defined local community'' and
``rural district.'' \9\ The Board published a second rule in the
Federal Register on June 28, 2018 (``FOM II'') that, in relevant part,
adopts a narrative approach for FCUs seeking to expand or convert to a
community charter.\10\
---------------------------------------------------------------------------
\9\ ``Chartering and Field of Membership Manual,'' 83 FR 30293
(June 28, 2018).
\10\ ``Chartering and Field of Membership Manual,'' 81 FR 88412
(Dec. 7, 2016).
---------------------------------------------------------------------------
Both of these final rules contain typographical errors in the
regulatory text including improperly labelled subheadings and
extraneous punctuation. The final rule corrects those mistakes.
Furthermore, the final rule reincorporates definitions from FOM I for a
``well-defined local community'' and ``rural district,'' which were
inadvertently excluded from the regulatory text of the Chartering
Manual when FOM II was published.
Part 702--Capital Adequacy
The final rule removes amendatory instruction 11 from the NCUA's
risk-based capital rule.\11\ That instruction directs the Federal
Register to edit a section reference in Sec. 702.504(b)(4) of the
NCUA's regulations. However, the Board recently removed Sec.
702.504(b)(4) and redesignated paragraphs (b)(5) and (6) as (b)(4) and
(5), respectively, as part of the capital planning and stress testing
rule.\12\ Accordingly, there is no longer a corresponding section
reference for the Federal Register to amend. To avoid an editorial note
in Sec. 702.504 highlighting this discrepancy, the final rule
withdraws instruction 11.
---------------------------------------------------------------------------
\11\ ``Risk-Based Capital,'' 80 FR 66626, 66722 (Oct. 29, 2015).
\12\ ``Capital Planning and Supervisory Stress Testing,'' 83 FR
17901 (Apr. 25, 2018).
---------------------------------------------------------------------------
Sections 703.2 and 703.8--Investment and Deposit Activities
The final rule makes technical amendments to Sec. Sec. 703.2 and
703.8 of the NCUA's regulations to recognize a change in nomenclature.
On March 19, 2007, the National Association of Securities Dealers, Inc.
(NASD) consolidated with NYSE Regulation, Inc. to create the Financial
Industry Regulatory Authority (FINRA), a self-regulatory organization
charged with policing the conduct of broker-dealers under federal
securities laws.\13\ Therefore, the final rule replaces references to
``National Association of Securities Dealers'' with ``Financial
Industry Regulatory Authority'' and ``NASD'' with ``FINRA'' wherever
they appear.
---------------------------------------------------------------------------
\13\ See Securities Exchange Act Release No. 34-56145 (July 26,
2007), 72 FR 42169 (Aug. 1, 2007).
---------------------------------------------------------------------------
Part 708a--Bank Conversions and Mergers
Part 708a contains the NCUA's regulations governing the conversion
of a FICU into a mutual savings bank and the merger of a FICU into a
bank. This final rule updates cross-references in the rule to reflect
the redesignation of sections that are now contained in Subpart A of
the bank conversions and mergers rule.\14\
---------------------------------------------------------------------------
\14\ See ``Fiduciary Duties at Federal Credit Unions; Mergers
and Conversions of Insured Credit Unions,'' 75 FR 81378 (Dec. 28,
2010) (redesignating sections 708a.1 through 708a.13 as sections
708a.101 through 708a.113 within Subpart A).
---------------------------------------------------------------------------
Part 717--Fair Credit Reporting
The final rule removes and reserves several subparts and appendices
to part 717, the NCUA's regulation implementing the Fair Credit
Reporting Act (FCRA).\15\ Historically, the federal banking agencies,
the NCUA, and the Federal Trade Commission shared rulemaking authority
for various aspects of the FCRA. Title X of the Dodd-Frank Wall Street
Reform and Consumer Protection Act (Dodd-Frank Act) transferred most
rulemaking authority for the FCRA to the Bureau of Consumer Financial
Protection (BCFP) effective July 21, 2011.\16\ The BCFP published a new
Regulation V (Fair Credit Reporting), 12 CFR part 1022, on December 21,
2011, implementing those provisions of the FCRA.\17\ Therefore, the
Board is removing all subparts and appendices to part 717 issued under
rulemaking authority in the FCRA that the Dodd-Frank Act transferred to
the BCFP.
---------------------------------------------------------------------------
\15\ 15 U.S.C. 1681 et seq.
\16\ Public Law 111-203, tit. X, secs. 1061, 1088, 124 Stat.
1376, 2035-2092 (July 21, 2010).
\17\ See ``Fair Credit Reporting (Regulation V)'' 76 FR 79307
(Dec. 21, 2011).
---------------------------------------------------------------------------
Part 741--Requirements for Insurance
The final rule corrects an inaccurate cross-reference in Sec.
741.3(b)(5) of the NCUA's regulations.\18\ That provision directs
stakeholders to Appendix B to part 741 for guidance on how to develop
an interest rate risk (IRR) policy and an effective IRR program. The
NCUA's equity distribution rule eliminated Appendix A to part 741 and
redesignated Appendix B as Appendix A. Accordingly, the Board is
amending Sec. 741.3(b)(5) to include the correct cross-reference to
current Appendix A to part 741 which contains the NCUA's guidance on
IRR policies.
---------------------------------------------------------------------------
\18\ 12 CFR 741.3(b)(5).
---------------------------------------------------------------------------
Part 746--Appeals Procedures
The final rule also remedies an inadvertent drafting error in the
NCUA's supervisory review committee (SRC) rule.\19\ The SRC rule
permits a FICU to appeal a material supervisory determination made by
the NCUA to various appellate bodies within the agency. The SRC rule
provides FICUs
[[Page 1603]]
with specific deadlines by which the credit union must file an appeal
in order for the appellate body to hear an appeal. The SRC rule bases
these deadlines on when the FICU receives notice of the material
supervisory determination or the decision on appeal. Section 746.106,
which governs appeal to the Director of the Office of Examination and
Insurance (E&I), inadvertently establishes a deadline based on when the
material supervisory determination was rendered by the NCUA rather than
when it was received by the FICU.\20\ The final rule corrects this
drafting error to clarify that the SRC rule bases the deadline to
appeal to the Director of E&I on when the FICU receives the material
supervisory determination not when the decision is rendered.
---------------------------------------------------------------------------
\19\ See ``Supervisory Review Committee; Procedures for
Appealing Material Supervisory Determinations,'' 82 FR 50270 (Oct.
30, 2017).
\20\ See 12 CFR 746.106(a).
---------------------------------------------------------------------------
Part 790--Description of NCUA; Requests for Agency Action
Part 790 contains a description of the NCUA's organization and the
procedures for public requests for action by the Board.\21\ This part
relates solely to the practices of the NCUA and does not apply to FICU
operations. In July 2017, the Board announced a plan to streamline and
consolidate certain of the NCUA's functions and offices in an effort to
reduce the NCUA's budget and increase efficiency. This plan includes
the elimination of two NCUA Regional Offices effective December 31,
2018. The final rule amends part 790 to reflect the closure of those
two offices as well as the creation of the Office of Business
Innovation.\22\
---------------------------------------------------------------------------
\21\ See 12 CFR 790.1.
\22\ The Board previously amended part 792 to reflect other
aspects of the reorganization plan including the creation of the
Office of Credit Union Resources and Expansion and the elimination
of the Office of Small Credit Union Initiatives. See ``Agency
Reorganization,'' 82 FR 60290 (Dec. 20, 2017).
---------------------------------------------------------------------------
IV. Regulatory Procedures
Administrative Procedure Act
Generally, the APA requires a federal agency to provide the public
with notice and an opportunity to comment on agency rulemakings.\23\
The APA, however, creates an exception in cases where an agency for
good cause determines ``that notice and public procedure thereon are
impracticable, unnecessary, or contrary to the public interest.'' \24\
Because all of the changes in this final rule involve only minor,
technical amendments to the NCUA's existing regulations, the Board has
determined that notice and comment would be unnecessary and contrary to
the public interest.
---------------------------------------------------------------------------
\23\ 5 U.S.C. 553(b).
\24\ 5 U.S.C. 553(b)(B).
---------------------------------------------------------------------------
Furthermore, the APA generally provides that a final rule may not
become effective until at least 30 days after its publication in the
Federal Register unless the agency determines that good cause exists to
dispense with this requirement.\25\ As noted above, given that the rule
does not impose new requirements on federally insured credit unions and
only involves minor, technical amendments to existing regulations, the
Board finds sufficient good cause exists to dispense with the 30-day
effective date requirement. The rule will, therefore, be effective
immediately upon publication.
---------------------------------------------------------------------------
\25\ 5 U.S.C. 553(d).
---------------------------------------------------------------------------
Regulatory Flexibility Act
The Regulatory Flexibility Act requires the NCUA to prepare an
analysis of any significant economic impact a regulation may have on a
substantial number of small entities (primarily those under $100
million in assets).\26\ This final rule will have no economic impact on
small credit unions because it only makes minor, technical amendments
to NCUA's existing regulations. Accordingly, the NCUA certifies the
rule will not have a significant economic impact on a substantial
number of small credit unions.
---------------------------------------------------------------------------
\26\ 5 U.S.C. 601-612.
---------------------------------------------------------------------------
Paperwork Reduction Act
The Paperwork Reduction Act of 1995 (PRA) applies to rulemakings in
which an agency by rule creates a new paperwork burden on regulated
entities or increases an existing burden.\27\ For purposes of the PRA,
a paperwork burden may take the form of a reporting or recordkeeping
requirement, both referred to as information collections. As the final
rule only makes minor, technical amendments to the NCUA's existing
regulations, we have determined it does not increase paperwork
requirements under the PRA.
---------------------------------------------------------------------------
\27\ 44 U.S.C 3501-3521.
---------------------------------------------------------------------------
Small Business Regulatory Enforcement Fairness Act
The Small Business Regulatory Enforcement Fairness Act of 1996
(SBREFA) provides generally for congressional review of agency
rules.\28\ A reporting requirement is triggered in instances where the
NCUA issues a final rule as defined by section 551 of the APA. As
required by SBREFA, NCUA has submitted this rule to the Office of
Management and Budget for it to determine if the final rule is a
``major rule'' for purposes of SBREFA. The NCUA does not believe the
rule is major.
---------------------------------------------------------------------------
\28\ 5 U.S.C. 801-808.
---------------------------------------------------------------------------
Assessment of Federal Regulations and Policies on Families
The NCUA has determined that this rule will not affect family well-
being within the meaning of section 654 of the Treasury and General
Government Appropriations Act.\29\
---------------------------------------------------------------------------
\29\ Public Law 105-277, 654, 112 Stat. 2681, 2681-528 (1998).
---------------------------------------------------------------------------
Executive Order 13132
Executive Order 13132 encourages independent regulatory agencies to
consider the impact of their actions on state and local interests.\30\
The NCUA, an independent regulatory agency as defined in 44 U.S.C.
3502(5), voluntarily complies with the executive order to adhere to
fundamental federalism principles. The final rule does not have
substantial direct effects on the states, on the relationship between
the national government and the states, or on the distribution of power
and responsibilities among the various levels of government. The NCUA
has therefore determined that this final rule does not constitute a
policy that has federalism implications for purposes of the executive
order.
---------------------------------------------------------------------------
\30\ ``Federalism,'' E.O. 13,132 (Aug. 10, 1999).
---------------------------------------------------------------------------
List of Subjects
12 CFR Part 700
Credit unions.
12 CFR Part 701
Advertising, Aged, Civil rights, Credit, Credit unions, Fair
housing, Individuals with disabilities, Insurance, Marital status
discrimination, Mortgages, Religious discrimination, Reporting and
recordkeeping requirements, Sex discrimination, Signs and symbols,
Surety bonds.
12 CFR Part 702
Credit unions, Reporting and recordkeeping requirements.
12 CFR Part 703
Credit unions, Investments.
12 CFR Part 704
Credit unions, Reporting and recordkeeping requirements, Surety
bonds.
12 CFR Part 705
Credit unions, Loans, Grants, Revolving fund, Community programs,
Low income.
[[Page 1604]]
12 CFR Part 708a
Credit unions, Reporting and recordkeeping requirements.
12 CFR Part 708b
Bank deposit insurance, Credit unions, Reporting and recordkeeping
requirements.
12 CFR Part 709
Claims, Credit unions.
12 CFR Part 710
Administrative practice and procedure, Credit unions, Reporting and
recordkeeping requirements.
12 CFR Part 715
Accounting, Credit unions, Reporting and recordkeeping
requirements.
12 CFR Part 717
Consumer protection, Credit unions, Information, Privacy, Reporting
and recordkeeping requirements.
12 CFR Part 723
Credit, Credit unions, Member business loans, Reporting and
recordkeeping requirements.
12 CFR Part 725
Credit unions, Reporting and recordkeeping requirements.
12 CFR Part 741
Bank deposit insurance, Credit unions, Reporting and recordkeeping
requirements.
12 CFR Part 745
Administrative practice and procedure, Claims, Credit unions, Share
insurance.
12 CFR Part 746
Administrative practice and procedure, Claims, Credit unions,
Investigations.
12 CFR Part 747
Administrative practice and procedure, Bank deposit insurance,
Claims, Credit unions, Crime, Equal access to justice, Investigations,
Lawyers, Penalties.
12 CFR Part 748
Credit unions, Reporting and recordkeeping requirements, Security
measures.
12 CFR Part 749
Archives and records, Credit unions, Reporting and recordkeeping
requirements.
12 CFR Part 750
Credit unions, Golden parachute payments, Indemnity payments.
12 CFR Part 760
Credit unions, Mortgages, Flood insurance, Reporting and
recordkeeping requirements.
12 CFR Part 790
Organization and functions (Government agencies).
12 CFR Part 791
Administrative practice and procedure, Sunshine Act.
12 CFR Part 792
Classified information, Confidential business information, Courts,
Freedom of information, Government employees, Privacy.
By the National Credit Union Administration Board on December
13, 2018.
Gerard S. Poliquin,
Secretary of the Board.
For the reasons discussed above, the Board is amending 12 CFR parts
700, 701, 702, 703, 704, 705, 708a, 708b, 709, 710, 715, 717, 723, 725,
741, 745, 746, 747, 748, 749, 750, 760, 790, 791, and 792 as follows:
PART 700--DEFINITIONS
0
1. The authority citation for part 700 continues to read as follows:
Authority: 12 U.S.C. 1752, 1757(6), 1766.
0
2. In Sec. 700.2:
0
a. Revise the definitions of ``Act,'' ``Board,'' and ``Credit union'';
0
b. Add definitions for ``Federally insured credit union,'' ``NCUA,''
``and Noninsured credit union'' in alphabetical order; and
0
c. Revise the definitions of ``Paid-in and unimpaired capital and
surplus,'' ``Regional Director,'' and ``Regional Office''.
The revisions and additions read as follows:
Sec. 700.2 Definitions.
* * * * *
Act means the Federal Credit Union Act (12 U.S.C. 1751, et seq.).
* * * * *
Board or NCUA Board refer to the Board of the National Credit Union
Administration.
Credit union means a nonprofit financial cooperative chartered
under the Federal Credit Union Act or under the laws of any State, the
District of Columbia, the several territories and possessions of the
United States, or the Commonwealth of Puerto Rico, which laws provide
for the organization of financial cooperatives similar in principle and
objectives to cooperatives chartered under the Federal Credit Union
Act.
Federally insured credit union means any credit union whose member
accounts are insured by NCUA according to the provisions of Title II of
the Federal Credit Union Act (12 U.S.C. 1782 et seq.).
* * * * *
NCUA refers to the National Credit Union Administration.
* * * * *
Noninsured credit union means a credit union chartered under the
laws of any State, the District of Columbia, the several territories
and possessions of the United States, the Panama Canal Zone, or the
Commonwealth of Puerto Rico, whose member accounts are not insured by
NCUA.
Paid-in and unimpaired capital and surplus or unimpaired capital
and surplus mean shares plus post-closing, undivided earnings. This
does not include regular reserves or special reserves required by law,
regulation or special agreement between the credit union and its
regulator or share insurer. ``Paid-in and unimpaired capital and
surplus'' for purposes of the Central Liquidity Facility is defined in
Sec. 725.2(o) of this chapter.
Regional Director means the representative of NCUA in the
designated geographical area in which the office of the federally
insured credit union is located or, for federally insured credit unions
with $10 billion or more in assets, the Director of the Office of
National Examinations and Supervision.
Regional Office means the office of NCUA located in the designated
geographical areas in which the office of the federally insured credit
union is located or, for federally insured credit unions with $10
billion or more in assets, the Office of National Examinations and
Supervision.
* * * * *
PART 701--ORGANIZATION AND OPERATION OF FEDERAL CREDIT UNIONS
0
3. The authority citation for part 701 continues to read as follows:
Authority: 12 U.S.C. 1752(5), 1755, 1756, 1757, 1758, 1759,
1761a, 1761b, 1766, 1767, 1782, 1784, 1786, 1787, 1789. Section
701.6 is also authorized by 15 U.S.C. 3717. Section 701.31 is also
authorized by 15 U.S.C. 1601 et seq.; 42 U.S.C. 1981 and 3601-3610.
Section 701.35 is also authorized by 42 U.S.C. 4311-4312.
0
4. Revise Sec. 701.6(a) to read as follows:
Sec. 701.6 Fees paid by federal credit unions.
(a) Basis for assessment. Each calendar year, or as otherwise
directed by the NCUA Board, each federal credit union shall pay an
operating fee to
[[Page 1605]]
NCUA for the current fiscal year (January 1 to December 31) in
accordance with a schedule fixed by the Board from time to time. The
operating fee shall be based on the total assets of each federal credit
union (less the assets created on the books of natural person federal
credit unions by investments made in a corporate credit union under the
Credit Union System Investment Program or the Credit Union Homeowners
Affordability Relief Program) as of December 31 of the preceding year
or as otherwise determined pursuant to paragraph (b) of this section.
* * * * *
Sec. 701.21 [Amended]
0
5. In Sec. 701.21(h)(1), remove ``federally-insured'' and add in its
place ``federally insured''.
0
6. In Sec. 701.22, remove ``Federally insured, state-chartered credit
unions'' and add in its place ``Federally insured state-chartered
credit unions'' in the introductory text; and remove ``federally
insured, state-chartered credit union'' and add in its place
``federally insured state-chartered credit union'' wherever it appears.
Sec. 701.23 [Amended]
0
7. Amend Sec. 701.23(b) by removing ``federally-insured'' and adding
in its place ``federally insured'' wherever it appears.
0
8. Amend Appendix B to part 701 as follows:
0
a. Amend Section III of Chapter 1 by removing the bullet after ``and''
but before the sentence beginning with ``The fact that the certificate
is made''.
0
b. Amend Section IV.D of Chapter 1 by removing the bullet after
``Continuity plan for directors, committee members and management
staff'' but before the sentence beginning ``Operating facilities''.
0
c. Amend Section V.B.1 of Chapter 1 by removing the bullet after
``Organization Certificate, NCUA 4008'' but before ``Report of Official
and Agreement to Serve, NCUA 4012''.
0
d. Revise the heading of Section V.B.5 of Chapter 1 titled
``Certification of Resolutions, NCUA 9501'' to read ``V.B.6--
Certification of Resolutions, NCUA 9501''.
0
e. Revise the heading of Section I.A. 2 of Chapter 2 to read ``I.A.2--
Special Low-Income Rules''.
0
f. Amend Section II.A.1 of Chapter 2 by removing the bullet after the
sentence beginning with ``Employees of Johnson Soap Company'' but
before the sentence beginning ``Employees of MMLLJS contractor''.
0
g. Revise the heading of Section II.A.2 of Chapter 2 to read ``II.A.2--
Trade, Industry, or Profession''.
0
h. Amend Section II.B.1 of Chapter 2 by removing the bullet after ``A
single occupational common bond to a single associational common bond''
but before ``A single occupational common bond to a community
charter''.
0
i. Revise the heading of Section II.B of Chapter 2 titled
``Restructuring'' to read ``II.B.2--Restructuring''.
0
j. Revise the heading of Section II.B of Chapter 2 titled
``Documentation Requirements'' to read ``II.B.4--Documentation
Requirements''.
0
k. Revise the heading of Section II.D of Chapter 2 titled ``Emergency
Mergers'' to read ``II.D.2--Emergency Mergers''.
0
l. Amend newly designated Section II.D.2 by removing the bullet after
``Serious and persistent recordkeeping problems; or'' but before
``Serious and persistent operational concerns''.
0
m. Revise the heading of Section II.D of Chapter 2 titled ``Purchase
and Assumption (P&A)'' to read ``II.D.3--Purchase and Assumption
(P&A)''.
0
n. Revise the heading of Section II.E of Chapter 2 titled
``Organizational Restructuring'' to read ``II.E.2--Organizational
Restructuring''.
0
o. Amend Section II.H of Chapter 2 by removing the bullet after
``Members of the immediate family or household'' but before the
sentence beginning ``Honorably discharged veterans''.
0
p. Amend Section III.A.1.a of Chapter 2 by removing the number ``1.''
after paragraph 2. but before paragraph 3.
0
q. Revise the heading of Section III.A.1 of Chapter 2 titled ``Pre-
Approved Groups'' to read ``III.A.1.b--Pre-Approved Groups''.
0
r. Amend Section III.A.1 of Chapter 2 titled ``Pre-Approved Groups'' by
removing the number ``(1)'' after paragraph (4) but before paragraph
(5).
0
s. Amend Section III.A.1 of Chapter 2 titled ``Pre-Approved Groups'' by
redesiganting paragraphs (1) through (12) as 1. through 12.
0
t. Amend Section III.A.3 of Chapter 2 by removing the bullet after
``Members of the Shalom Congregation in Chevy Chase, Maryland'' but
before the sentence beginning with ``Regular members of the Corporate
Executives Association''.
0
u. Revise the heading of Section III.B of Chapter 2 titled
``Organizational Restructuring'' to read ``III.B.2--Organizational
Restructuring''.
0
v. Revise the heading of Section III.B of Chapter 2 titled
``Documentation Requirements'' to read ``III.B.4--Documentation
Requirements''.
0
w. Revise the heading of Section III.C.C.2 of Chapter 2 to read
``III.C.2--Office of Credit Union Resources and Expansion Director
Decision''.
0
x. Revise the heading of Section III.D of Chapter 2 titled ``Emergency
Mergers'' to read ``III.D.2--Emergency Mergers''.
0
y. Revise the heading of Section III.D of Chapter 2 titled ``Purchase
and Assumption (P&A) to read ``III.D.3--Purchase and Assumption
(P&A)''.
0
z. Revise the heading of Section III.E of Chapter 2 titled
``Organizational Restructuring'' to read ``III.E.2--Organizational
Restructuring''.
0
aa. Amend Section III.H of Chapter 2 by removing the bullet after
``Members of the immediate family or household'' but before the
sentence beginning ``Honorably discharged veterans''.
0
bb. Revise the heading of Section IV.B of Chapter 2 titled
``Documentation Requirements'' to read ``IV.B.3--Documentation
Requirements''.
0
cc. Revise the heading of Section IV.B of Chapter 2 titled
``Restructuring'' to read ``IV.B.4--Restructuring''.
0
dd. Amend Section IV.C.4 of Chapter 2 by removing the bullet after
``Specific reasons for the action'' but before ``Options to consider,
if appropriate, for gaining approval''.
0
ee. Revise the heading of Section IV.D of Chapter 2 titled ``Voluntary
Mergers'' to read ``IV.D.1--Voluntary Mergers''.
0
ff. Revise the heading of Section IV.D of Chapter 2 titled ``Emergency
Mergers'' to read ``IV.D.3--Emergency Mergers''.
0
gg. Revise the heading of Section IV.D of Chapter 2 titled ``Purchase
and Assumption (P&A)'' to read ``IV.D.4--Purchase and Assumption
(P&A)''.
0
hh. Revise the heading of Section IV.E of Chapter 2 titled ``Overlap
Issues as a Result of Organizational Restructuring'' to read ``IV.E.2--
Overlap Issues as a Result of Organizational Restructuring''.
0
ii. Revise section V.A.2 of Chapter 2.
0
jj. Revise the heading of Section V.A of Chapter 2 titled ``Business
Plan Requirements for a Community Credit Union'' to read ``V.A.4--
Business Plan Requirements for a Community Credit Union''.
0
kk. Revise the heading of Section V.A of Chapter 2 titled ``Ample
Community Fields of Membership'' to read ``V.A.7--Ample Community
Fields of Membership''.
0
ll. Revise the heading of Section V.D of Chapter 2 titled ``Mergers''
to read ``V.D.1--Mergers''.
0
mm. Revise the heading of Section V.D of Chapter 2 titled ``Emergency
Mergers'' to read ``V.D.2--Emergency Mergers''.
0
nn. Revise the heading of Section V.D of Chapter 2 titled ``Purchase
and Assumption (P&A)'' to read ``V.D.3--Purchase and Assumption
(P&A)''.
[[Page 1606]]
0
oo. Revise the heading of Section V.E of Chapter 2 titled
``Exclusionary Clauses'' to read ``V.E.2--Exclusionary Clauses''.
0
pp. Revise the heading of Section II.B of Chapter 3 to read ``II.B--
Special Programs''.
0
qq. Revise the heading of Section II.C of Chapter 3 to read ``II.C--
Low-Income Documentation''.
0
rr. Revise the heading of Section II.D of Chapter 3 to read ``II.D--
Third-Party Assistance''.
0
ss. Revise the heading of Section II.E of Chapter 3 to read ``II.E--
Special Rules for Low-Income Federal Credit Unions''.
0
tt. Revise Section III.A of Chapter 3 by removing ``12'' and adding in
its place ``12 U.S.C. 1759(c)(2)'' in the first paragraph and removing
``U.S.C. 1759(c)(2).'' from the second paragraph.
0
uu. Revise the heading of Section III.B.2 of Chapter 3 titled
``Economic Distress Criteria'' to read ``III.B.2.a--Economic Distress
Criteria''.
0
vv. Amend Section III.B.2 of Chapter 3 titled ``Economic Distress
Criteria'' by removing the bullet after ``Other Criterion. Any other
economic distress criterion the CDFI Fund may adopt in the future.''
but before the sentence ``Id. Sec. 1805.201(b)(3)(ii)(D)(1), (2)(ii)
and (3) (2008).''
0
ww. Revise the heading of Section II.C.4 of Chapter 4 to read
``II.C.4--Notification''.
0
xx. Revise the heading of Section II.D of Chapter 4 titled
``Application for a Federal Charter'' to read ``II.D.2--Application for
a Federal Charter''.
0
yy. Revise the heading of Section II.E of Chapter 4 titled ``Effective
Date of Conversion'' to read ``II.E.1--Effective Date of Conversion''.
0
zz. Revise the heading of Section II.E of Chapter 4 titled ``Reports to
NCUA'' to read ``II.E.5--Reports to NCUA''.
0
aaa. Revise the heading of Section III.D.UA of Chapter 4 to read
``III.D.5--Disapproval''.
The revision reads as follows:
Appendix B to Part 701--Chartering and Field of Membership Manual
* * * * *
V.A.2--Definition of Well-Defined Local Community and Rural District
In addition to the documentation requirements in Chapter 1 to
charter a credit union, a community credit union applicant must
provide additional documentation addressing the proposed area to be
served and community service policies.
An applicant has the burden of demonstrating to NCUA that the
proposed community area meets the statutory requirements of being:
(1) Well-defined, and (2) a local community or rural district.
For an applicant seeking a community charter for an area with
multiple political jurisdictions with a population of 2.5 million
people or more, the Office of Credit Union Resources and Expansion
(CURE) shall: (1) Publish a notice in the Federal Register seeking
comment from interested parties about the proposed community and (2)
conduct a public hearing about this application.
``Well-defined'' means the proposed area has specific geographic
boundaries. Geographic boundaries may include a city, township,
county (single, multiple, or portions of a county) or a political
equivalent, school districts, or a clearly identifiable
neighborhood.
The well-defined local community requirement is met if:
Single Political Jurisdiction--The area to be served is
a recognized Single Political Jurisdiction, i.e., a city, county, or
their political equivalent, or any single portion thereof.
Statistical Area--A statistical area is all or an
individual portion of a Core-Based Statistical Area (CBSA)
designated by the U.S. Census Bureau, including a Metropolitan
Statistical Area. To meet the well-defined local community
requirement, the CBSA or a portion thereof, must be contiguous and
have a population of 2.5 million or less people. An individual
portion of a statistical area need not conform to internal
boundaries within the area, such as metropolitan division boundaries
within a Core-Based Statistical Area.
Compelling Evidence of Common Interests or
Interaction--In lieu of a statistical area as defined above, this
option is available when a credit union seeks to initially charter a
community credit union; to expand an existing community; or to
convert to a community charter. Under this option, the credit union
must demonstrate that the areas in question are contiguous and
further demonstrate a sufficient level of common interests or
interaction among area residents to qualify the area as a local
community. For that purpose, an applicant must submit for NCUA
approval a narrative, supported by appropriate documentation,
establishing that the area's residents meet the requirements of a
local community.
To assist a credit union in developing its narrative, Appendix 6
of this Manual identifies criteria a narrative should address, and
which NCUA will consider in deciding a credit union's application
to: initially charter a community credit union; to expand an
existing community, including by an adjacent area addition; or to
convert to a community charter. In any case, the credit union must
demonstrate, through its business and marketing plans, its ability
and commitment to serve the entire community for which it seeks NCUA
approval.
An area of any geographic size qualifies as a Rural District if:
The proposed district has well-defined, contiguous
geographic boundaries;
The total population of the proposed district does not
exceed 1,000,000.
Either more than 50% of the proposed district's
population resides in census blocks or other geographic units that
are designated as rural by either the Consumer Financial Protection
Bureau or the United States Census Bureau, OR the district has a
population density of 100 persons or fewer per square mile; and
The boundaries of the well-defined rural district do
not exceed the outer boundaries of the states that are immediately
contiguous to the state in which the credit union maintains its
headquarters (i.e., not to exceed the outer perimeter of the layer
of states immediately surrounding the headquarters state).
The common bond affinity groups that apply to well-defined local
communities also apply to Rural Districts.
The requirements in Chapter 2, Sections V.A.4 through V.G. also
apply to a credit union that serves a rural district.
* * * * *
PART 702--CAPITAL ADEQUACY
0
9. The authority citation for part 702 is revised to read as follows:
Authority: 12 U.S.C. 1766(a), 1790d.
0
10. In part 702, revise all references to ``federally-insured'' to read
``federally insured''.
Sec. 702.504 [Amended]
0
11. In Sec. 702.504(b)(4), revise the citation ``Sec. 702.306(c)'' to
read ``Sec. 702.506(c)''.
PART 703--INVESTMENT AND DEPOSIT ACTIVITIES
0
12. The authority citation for part 703 continues to read as follows:
Authority: 12 U.S.C. 1757(7), 1757(8), 1757(15).
Sec. 703.2 [Amended]
0
13. In Sec. 703.2, in the definition of ``Associated personnel,''
remove ``National Association of Securities Dealers (NASD)'' or
``NASD'' and add in their place ``Financial Industry Regulatory
Authority (FINRA)'' or ``FINRA'' wherever they appear.
Sec. 703.8 [Amended]
0
14. In Sec. 703.8(b)(2) remove ``National Association of Securities
Dealers'' and add in its place ``Financial Industry Regulatory
Authority''.
PART 704--CORPORATE CREDIT UNIONS
0
15. The authority citation for part 704 continues to read as follows:
Authority: 12 U.S.C. 1766(a), 1781, 1789.
Sec. 704.1 [Amended]
0
16. In Sec. 704.1(a) remove ``Non federally insured corporate credit
unions'' and add in its place ``Noninsured corporate credit unions''.
[[Page 1607]]
PART 705--COMMUNITY DEVELOPMENT REVOLVING LOAN FUND ACCESS FOR
CREDIT UNIONS
0
17. The authority citation for part 705 continues to read as follows:
Authority: 12 U.S.C. 1756, 1757(5)(D), and (7)(I), 1766, 1782,
1784, 1785 and 1786.
0
18. In part 705, revise all references to ``non-federally insured,
state-chartered credit union'' and ``non-federally insured state-
chartered credit union'' to read ``noninsured credit union''.
PART 708a--BANK CONVERSIONS AND MERGERS
0
19. The authority citation for part 708a continues to read as follows:
Authority: 12 U.S.C. 1766, 1785(b), and 1785(c).
0
20. Amend Sec. 708a.101 by revising the definitions of ``Credit
union,'' ``Federal banking agencies,'' and ``Mutual savings bank and
savings association'' to read as follows:
Sec. 708a.101 Definitions.
* * * * *
Credit union has the same meaning as insured credit union in
section 101 of the Federal Credit Union Act (12 U.S.C. 1752).
Federal banking agencies have the same meaning as in section 3 of
the Federal Deposit Insurance Act (12 U.S.C. 1813).
* * * * *
Mutual savings bank and savings association have the same meaning
as in section 3 of the Federal Deposit Insurance Act (12 U.S.C. 1813).
* * * * *
Sec. 708a.104 [Amended]
0
22. Amend Sec. 708a.104 as follows:
0
a. In paragraph (a), remove ``Sec. 708a.3'' and add in its place
``Sec. 708a.103''; and
0
b. In paragraph (f)(6), remove ``Sec. 708a.4(f)'' and add in its place
``Sec. 708a.104(f)''.
Sec. 708a.105 [Amended]
0
23. Amend Sec. 708a.105 as follows:
0
a. In paragraph (a)(1), remove ``Sec. Sec. 708a.3 and 708a.4'' and add
in its place ``Sec. Sec. 708a.103 and 708a.104''.
0
b. In paragraph (a)(3), remove ``Sec. 708a.5(a)'' and add in its place
``Sec. 708a.105(a)''.
0
c. In paragraph (b), remove ``Sec. 708a.6'' and add in its place
``Sec. 708a.106''.
Sec. 708a.106 [Amended]
0
24. In Sec. 708a.106(b), remove ``Sec. 708a.3'' and add in its place
``Sec. 708a.103''.
Sec. 708a.107 [Amended]
0
25. In Sec. 708a.107(b), by remove ``Sec. 708a.5'' and add in its
place ``Sec. 708a.105''.
Sec. 708a.108 [Amended]
0
26. In Sec. 708a.108(b), by remove ``Sec. 708a.7'' and add in its
place ``Sec. 708a.107'' and remove ``Sec. 708a.10'' and add in its
place ``Sec. 708a.110.''
Sec. 708a.110 [Amended]
0
27. Amend Sec. 708a.110 as follows:
0
a. In paragraph (a), remove ``Sec. 708a.8'' and add in its place
``Sec. 708a.108'' and remove ``Sec. 708a.9'' and add in its place
``Sec. 708a.109''.
0
b. In paragraph (b), remove ``Sec. 708a.8'' and add in its place
``Sec. 708a.108''.
Sec. 708a.113 [Amended]
0
28. In Sec. 708a.113(d)(3), remove ``Sec. 708a.12 of this part'' and
add in its place ``Sec. 708a.112''.
Sec. 708a.305 [Amended]
0
29. Amend Sec. 708a.305 as follows:
0
a. In paragraph (c)(3), remove the phrase ``because of'' the second
time it appears; and
0
b. In paragraph (c)(4) remove ``; and'' and add in its place a period.
Sec. 708a.312 [Amended]
0
30. In Sec. 708a.312(a), revise ``Federally insured State chartered
credit unions'' to read ``Federally insured state-chartered credit
unions''.
PART 708b--MERGERS OF INSURED CREDIT UNIONS INTO OTHER CREDIT
UNIONS; VOLUNTARY TERMINATION OR CONVERSION OF INSURED STATUS
0
31. The authority citation for part 708b continues to read as follows:
Authority: 12 U.S.C. 1752(7), 1766, 1785, 1786, 1789.
0
32. Revise the heading of part 708b to read as set forth above.
0
33. In part 708b, revise all references to ``federally-insured'',
``Federally-insured'', ``nonfederally-insured'', and ``Nonfederally-
insured'' to read ``federally insured'', ``Federally insured'',
``noninsured'', and ``Nonfederally insured'' respectively.
0
34. Amend Sec. 708b.2 by adding introductory text to read as follows:
Sec. 708b.2 Definitions.
As used in this part:
* * * * *
Subpart C--[Amended]
0
35. Amend Subpart C of part 708b by revising all references to
``$100,000'' to read ``$250,000'' wherever they occur.
Sec. 708b.303 [Amended]
0
36. In Sec. 708b.303(c), remove the word ``and'' and add in its place
the word ``an'' in the first sentence of Item 5 of the form
Certification of Vote.
PART 709--INVOLUNTARY LIQUIDATION OF FEDERAL CREDIT UNIONS AND
ADJUDICATION OF CREDITOR CLAIMS INVOLVING FEDERALLY INSURED CREDIT
UNIONS IN LIQUIDATION
0
37. The authority citation for part 709 continues to read as follows:
Authority: 12 U.S.C. 1757, 1766, 1767, 1786(h), 1787, 1788,
1789, 1789a.
0
38. In part 709, revise all references to ``federally-insured'' to read
``federally insured''.
Sec. 709.4 [Amended]
0
39. In Sec. 709.4(c)(10), remove ``state-chartered federally insured
credit union'' and add in its place ``federally insured state-chartered
credit union''.
PART 710--VOLUNTARY LIQUIDATION
0
40. The authority citation for part 710 continues to read as follows:
Authority: 12 U.S.C. 1766(a), 1786, and 1787.
0
41. In part 710, revise all references to ``Federally insured state
credit union'' or ``Federally insured state credit unions'' to read
``Federally insured state-chartered credit union'' or ``Federally
insured state-chartered credit unions'', respectively.
PART 715--SUPERVISORY COMMITTEE AUDITS AND VERIFICATIONS
0
42. The authority citation for part 715 continues to read as follows:
Authority: 12 U.S.C. 1761(b), 1761d, 1782(a)(6).
Sec. 715.4 [Amended]
0
43. In Sec. 715.4(c), remove the phrase ``NCUA form'' and add in its
place the phrase ``NCUA Form''.
Sec. 715.10 [Amended]
0
44. In Sec. 715.10(a), remove the phrase ``National Credit Union
Administration (``NCUA'')'' and add in its place the term ``NCUA''.
[[Page 1608]]
PART 717--FAIR CREDIT REPORTING
0
45. The authority citation for part 717 is revised to read as follows:
Authority: 12 U.S.C. 1766(a), 1789; 15 U.S.C. 1681m(e).
Subpart A--[Removed and Reserved]
0
46. Remove and reserve subpart A, consisting of Sec. Sec. 717.1
through 717.3.
Subpart C--[Removed and Reserved]
0
47. Remove and reserve subpart C, consisting of Sec. Sec. 717.20
through 717.28.
Subpart D--[Removed and Reserved]
0
48. Remove and reserve subpart D, consisting of Sec. Sec. 717.30
through 717.32.
Subpart E--[Removed and Reserved]
0
49. Remove and reserve subpart E, consisting of Sec. Sec. 717.40
through 717.43.
Appendix C--[Removed and Reserved]
0
50. Remove and reserve Appendix C to part 717.
PART 723--MEMBER BUSINESS LOANS; COMMERCIAL LENDING
0
51. The authority citation for part 723 continues to read as follows:
Authority: 12 U.S.C. 1756, 1757, 1757A, 1766, 1785, 1789.
0
52. In part 723, revise all references to ``federally insured, state-
chartered credit union'' or ``federally insured, state-chartered credit
unions'' to read ``federally insured state-chartered credit union'' or
``federally insured state-chartered credit unions'', respectively.
PART 725--NATIONAL CREDIT UNION ADMINISTRATION CENTRAL LIQUIDITY
FACILITY
0
53. The authority citation for part 725 is revised to read as follows:
Authority: 12 U.S.C. 1795f(a)(2).
0
54. In part 725:
0
a. Revise all references to ``federally-chartered'' or ``federally-
insured'' to read ``federally chartered'' and ``federally insured'',
respectively; and
0
b. Revise all references to ``central credit union'' or ``central
credit unions'' to read ``corporate credit union'' or ``corporate
credit unions'', respectively.
Sec. 725.2 [Amended]
0
55. In Sec. 725.2(h)(2), remove ``or Federal Savings and Loan
Insurance Corporation''.
Sec. 725.3 [Amended]
0
56. In Sec. 725.3(a)(2), remove footnote 1.
Sec. 725.4 [Amended]
0
57. In Sec. 725.4, remove footnote 3 from paragraph (a)(2) and, in
paragraph (f), add the word ``or'' between the words ``chartered'' and
``within''.
PART 741--REQUIREMENTS FOR INSURANCE
0
58. The authority citation for part 741 continues to read as follows:
Authority: 12 U.S.C. 1757, 1766(a), 1781-1790, and 1790d; 31
U.S.C. 3717.
0
59. In part 741:
0
a. Revise all references to ``federally-insured'' and ``nonfederally-
insured'' to read ``federally insured'' and ``nonfederally insured''
respectively; and
0
b. Revise all references to ``federally insured, state-chartered'' or
``federally-insured state-chartered'' to read ``federally insured
state-chartered''.
Sec. 741.3 [Amended]
0
60. In Sec. 741.3(b)(5), remove ``Appendix B'' and add in its place
``Appendix A''.
0
61. Revise Sec. 741.8(c) to read as follows:
Sec. 741.8 Purchase of assets and assumption of liabilities.
* * * * *
(c) A credit union seeking approval under paragraph (a) of this
section must submit a request for approval to the appropriate regional
director. The request must state the nature of the transaction and
include copies of all relevant transaction documents. The regional
director will approve or disapprove the request as soon as possible
depending on the complexity of the proposed transaction. Credit unions
should submit a request for approval in sufficient time to close the
transaction.
Sec. 741.201 [Amended]
0
62. In Sec. 741.201(a), remove ``part 713 of this chapter'' and add
``Sec. Sec. 713.3, 713.5, and 713.6'' in its place.
Sec. 741.219 [Amended]
0
63. In Sec. 741.219(b), remove the phrase ``or the Director of the
Office of National Examinations and Supervision.''
PART 745--SHARE INSURANCE AND APPENDIX
0
64. The authority citation for part 745 continues to read as follows:
Authority: 12 U.S.C. 1752(5), 1757, 1765, 1766, 1781, 1782,
1787, 1789; title V, Pub. L. 109-351; 120 Stat. 1966.
0
65. In part 745:
0
a. Revise all references to ``federally-insured'' to read ``federally
insured''; and
0
b. Revise all references to ``state credit union'' or ``state credit
unions'' to read ``state-chartered credit union'' or ``state-chartered
credit unions'', respectively.
0
66. Revise Sec. 745.202(b) to read as follows:
Sec. 745.202 Judicial review.
* * * * *
(b) Failure to file an appeal with regard to an initial
determination, or a decision rendered on a request for reconsideration
within the applicable time periods shall constitute a failure by the
accountholder to exhaust available administrative remedies and, due to
such failure, any objections to the initial determination or request
for reconsideration shall be deemed to be waived and such determination
shall be deemed to have been accepted by, and binding upon, the
accountholder.
* * * * *
PART 746--APPEALS PROCEDURES
Subpart A--Procedures for Appealing Material Supervisory
Determinations
0
67. The authority citation for part 746, subpart A, continues to read
as follows:
Authority: 12 U.S.C. 1766, 1787, and 1789.
0
68. Revise Sec. 746.106(a) to read as follows:
Sec. 746.106 Procedures for requesting review by the Director of the
Office of Examination and Insurance.
(a) Request for review. Prior to filing an appeal with the
Committee pursuant to Sec. 746.107, but after receiving a written
decision by the appropriate program office in response to a request for
reconsideration pursuant to Sec. 746.105, an insured credit union may
make a written request for review by the Director of the Office of
Examination and Insurance of the program office's material supervisory
determination. Such a request must be made within 30 calendar days
after receiving a final decision on reconsideration from the
appropriate program office. A request for review must be in writing and
filed with the Secretary of the Board, National Credit Union
Administration, 1775 Duke Street, Alexandria, VA 22314-3428.
* * * * *
[[Page 1609]]
PART 747--ADMINISTRATIVE ACTIONS, ADJUDICATIVE HEARINGS, RULES OF
PRACTICE AND PROCEDURE, AND INVESTIGATIONS
0
69. The authority citation for part 747 continues to read as follows:
Authority: 12 U.S.C. 1766, 1782, 1784, 1785, 1786, 1787, 1790a,
1790d; 15 U.S.C. 1639e; 42 U.S.C. 4012a; Pub. L. 101-410; Pub. L.
104-134; Pub. L. 109-351; Pub. L. 114-74.
0
70. In part 747:
0
a. Revise all references to ``federally-insured'' to read ``federally
insured''; and
0
b. Revise all references to ``state credit union'' or ``state credit
unions'' to read ``state-chartered credit union'' or ``state-chartered
credit unions'', respectively.
PART 748--SECURITY PROGRAM, REPORT OF SUSPECTED CRIMES, SUSPICIOUS
TRANSACTIONS, CATASTROPHIC ACTS AND BANK SECRECY ACT COMPLIANCE
0
71. The authority citation for part 748 continues to read as follows:
Authority: 12 U.S.C. 1766(a), 1786(q); 15 U.S.C. 6801-6809; 31
U.S.C. 5311 and 5318.
0
72. In part 748, revise all references to ``federally-insured'' to read
``federally insured''.
Appendix A to Part 748 [Amended]
0
73. Amend Appendix A by removing ``G. Implement the Standards'' from
the table of contents under section III.
PART 749--RECORDS PRESERVATION PROGRAM AND APPENDICES--RECORD
RETENTION GUIDELINES; CATASTROPHIC ACT PREPAREDNESS GUIDELINES
0
74. The authority citation for part 749 continues to read as follows:
Authority: 12 U.S.C. 1766, 1783 and 1789; 15 U.S.C. 7001(d).
0
75. In part 749, revise all references to ``federally-insured'' to read
``federally insured''.
PART 750--GOLDEN PARACHUTE AND INDEMNIFICATION PAYMENTS
0
76. The authority citation for part 750 continues to read as follows:
Authority: 12 U.S.C. 1786(t).
0
77. In part 750, revise all references to ``Federally insured'' to read
``federally insured''.
PART 760--LOANS IN AREAS HAVING SPECIAL FLOOD HAZARDS
0
78. Revise the authority citation for part 760 to read as follows:
Authority: 12 U.S.C. 1757, 1784(e), 1789; 42 U.S.C. 4012a,
4104a, 4104b, 4106, and 4128.
PART 790--DESCRIPTION OF NCUA; REQUESTS FOR AGENCY ACTION
0
79. The authority citation for part 790 continues to read as follows:
Authority: 12 U.S.C. 1766, 1789, 1795f.
0
80. In Sec. 790.2, add paragraph (b)(18) and revise paragraph (c) to
read as follows:
Sec. 790.2 Central and field office organization.
* * * * *
(b) * * *
(18) The Office of Business Innovation. The Office of Business
Innovation (OBI) serves as a central platform and facilitator for
critical agency stakeholders to shape achievable solutions and
capabilities to manage evolving business demands. This office manages
the agency's Information Technology modernization and business process
optimization efforts, from the internal and external business
stakeholder perspective, of mission related systems that enable the
NCUA's core mission of regulating and supervising credit unions.
Additionally, OBI provides enterprise information security support in
partnership with the Office of the Chief Information Officer (OCIO) and
serves as a center point for enterprise data strategy and governance.
* * * * *
(c) Field Offices. NCUA's programs are conducted through Regional
Offices and the Office of National Examinations and Supervision.
(1) Regional Offices. (i) The NCUA has three Regional Offices:
----------------------------------------------------------------------------------------------------------------
Region name Area within region Office address
----------------------------------------------------------------------------------------------------------------
Eastern.............................. Connecticut, Delaware, District of 1900 Duke Street, Suite 300,
Columbia, Maine, Maryland, Alexandria, VA 22314-3498.
Massachusetts, Michigan, New
Hampshire, New Jersey, New York,
Ohio, Pennsylvania, Rhode Island,
Vermont, Virginia, and West
Virginia.
Southern............................. Alabama, Arkansas, Florida, Georgia, 4807 Spicewood Springs Road, Suite
Indiana, Kentucky, Louisiana, 5200, Austin, TX 78759-8490.
Mississippi, North Carolina,
Oklahoma, Puerto Rico, South
Carolina, Tennessee, Texas, and
Virgin Islands.
Western.............................. Alaska, American Samoa, Arizona, 1230 West Washington Street, Suite
California, Colorado, Guam, Idaho, 301, Tempe, AZ 85281.
Illinois, Iowa, Kansas, Minnesota,
Missouri, Montana, Nebraska,
Nevada, New Mexico, North Dakota,
Oregon, South Dakota, Nevada, Utah,
Washington, Wisconsin, and Wyoming.
----------------------------------------------------------------------------------------------------------------
(ii) A Regional Director is in charge of each Regional Office. The
Regional Director manages NCUA's programs in the Region assigned in
accordance with established policies. A Regional Director's duties
include: Directing examination and supervision programs to promote and
assure safety and soundness; assisting other offices in chartering and
insurance issues; managing regional resources to meet program
objectives in the most economical and practical manner; and maintaining
good public relations with public, private, and governmental
organizations, federal credit union officials, credit union
organizations, and other groups which have an interest in credit union
matters in the assigned region. The Regional Director maintains liaison
and cooperation with other regional offices of federal departments and
agencies, state agencies, city and county officials, and other
governmental units that affect credit unions. The Regional Director is
aided by Associate Regional Directors. Each region is divided into
examiner districts, each assigned to a Supervisory Credit Union
Examiner; groups of examiners are directed by a Supervisory Credit
Union Examiner, each of whom in turn reports directly to one of the
Associate Regional Directors.
(2) Office of National Examinations and Supervision. Similar to a
Regional Director, the Director of the Office of National Examinations
and Supervision manages NCUA's supervisory program
[[Page 1610]]
over credit unions; however, it oversees the activities for corporate
credit unions and of natural person credit unions with assets totaling
$10 billion or more, in accordance with established policies. The
Director's duties include directing insurance, examination, and
supervision programs to promote and assure safety and soundness;
managing office resources to meet program objectives in the most
economical and practical manner; and maintaining good public relations
with public, private and governmental organizations, credit union
officials, credit union organizations, and other groups which have an
interest in credit union matters in the assigned office. The Director
maintains liaison and cooperation with other regional offices of
federal departments and agencies, state agencies, and other
governmental units that affect credit unions. The Director is aided by
a Deputy Director. Staff working in the office report to the Director
of Supervision, who in turn reports to the Deputy Director. Field staff
is divided into examiner districts, each assigned to a National Field
Supervisor, each of whom in turn reports directly to the Deputy
Director.
PART 791--RULES OF NCUA BOARD PROCEDURE; PROMULGATION OF NCUA RULES
AND REGULATIONS; PUBLIC OBSERVATION OF NCUA BOARD MEETINGS
0
81. The authority citation for part 791 continues to read as follows:
Authority: 12 U.S.C. 1766, 1789 and 5 U.S.C. 552b.
Sec. 791.8 [Amended]
0
82. In Sec. 791.8(b)(4), revise ``state-chartered federally-insured
credit union'' to read ``federally insured state-chartered credit
union''.
PART 792--REQUESTS FOR INFORMATION UNDER THE FREEDOM OF INFORMATION
ACT AND PRIVACY ACT, AND BY SUBPOENA; SECURITY PROCEDURES FOR
CLASSIFIED INFORMATION
0
83. The authority citation for part 792 continues to read as follows:
Authority: 12 U.S.C. 1766, 1789 and 5 U.S.C. 552b.
Sec. 792.30 [Amended]
0
84. In Sec. 792.30, revise ``federally-insured'' to read ``federally
insured''.
[FR Doc. 2018-27472 Filed 2-4-19; 8:45 am]
BILLING CODE 7535-01-P
