National Credit Union Administration February 2006 – Federal Register Recent Federal Regulation Documents

Supervisory Committee Audits
Document Number: E6-2531
Type: Proposed Rule
Date: 2006-02-23
Agency: National Credit Union Administration, Agencies and Commissions
The National Credit Union Administration (NCUA) requests public comment on whether and how to modify its Supervisory Committee audit rules to require credit unions to obtain an ``attestation on internal controls'' in connection with their annual audits; to identify and impose assessment and attestation standards for such engagements; to impose minimum qualifications for Supervisory Committee members; and to identify and impose a standard for the independence required of State-licensed, compensated auditors.
Agency Information Collection Activities: Submission to OMB for New Information Collections; Comment Request
Document Number: E6-2527
Type: Notice
Date: 2006-02-23
Agency: National Credit Union Administration, Agencies and Commissions
The NCUA has submitted the following information collection to the Office of Management and Budget (OMB) for review and clearance under the Paperwork Reduction Act of 1995 (Pub. L. 104-13, 44 U.S.C. Chapter 35). NCUA has requested emergency processing by February 28, 2006. This information collection is published to obtain comments from the public.
Interagency Guidance on Nontraditional Mortgage Products; Extension of Comment Period
Document Number: 06-1675
Type: Notice
Date: 2006-02-23
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions, Federal Reserve System, National Credit Union Administration, Office of the Comptroller of the Currency, Department of Treasury, Department of the Treasury, Office of Thrift Supervision, Comptroller of the Currency
On December 29, 2005, the OCC, Board, FDIC, OTS, and NCUA (the Agencies) published for public comment proposed Interagency Guidance on Nontraditional Mortgage Products (Guidance). The Agencies are extending the comment period on the proposed guidance for 30 days.
Agency Information Collection Activities; Proposed Collection; Comment Request; Suspicious Activity Report by Depository Institutions
Document Number: 06-1433
Type: Notice
Date: 2006-02-17
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions, Federal Reserve System, National Credit Union Administration, Office of the Comptroller of the Currency, Department of Treasury, Department of the Treasury, Office of Thrift Supervision, Comptroller of the Currency
The Financial Crimes Enforcement Network and the Banking Supervisory Agencies \1\, as part of their continuing effort to reduce paperwork and respondent burden, invite the general public and other Federal agencies to take this opportunity to comment on information collections, as required by the Paperwork Reduction Act of 1995, Public Law 104-13 (44 U.S.C. 3506(c)(2)(A)). The Financial Crimes Enforcement Network and the Banking Supervisory Agencies are soliciting comments concerning the Suspicious Activity Report by Depository Institutions, which is being revised and reformatted to standardize this report with suspicious activity reports being filed by other financial institutions. The report also is being revised to support joint filing, providing the necessary data blocks and instructions for completing a jointly filed suspicious activity report. The instructions limit joint filing to those suspicious activities that do not involve insider abuse.
Interagency Advisory on the Unsafe and Unsound Use of Limitation of Liability Provisions in External Audit Engagement Letters
Document Number: C6-1189
Type: Notice
Date: 2006-02-15
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions, Federal Reserve System, National Credit Union Administration, Office of the Comptroller of the Currency, Department of Treasury, Department of the Treasury, Office of Thrift Supervision, Comptroller of the Currency
Sunshine Act Meeting; Notice of Change in Subject of Meeting
Document Number: 06-1454
Type: Notice
Date: 2006-02-15
Agency: National Credit Union Administration, Agencies and Commissions
Sunshine Act Meeting
Document Number: 06-1374
Type: Notice
Date: 2006-02-13
Agency: National Credit Union Administration, Agencies and Commissions
Interagency Advisory on the Unsafe and Unsound Use of Limitation of Liability Provisions in External Audit Engagement Letters
Document Number: 06-1189
Type: Notice
Date: 2006-02-09
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions, Federal Reserve System, National Credit Union Administration, Office of the Comptroller of the Currency, Department of Treasury, Department of the Treasury, Office of Thrift Supervision, Comptroller of the Currency
The OTS, Board, FDIC, NCUA, and OCC (collectively, the ``Agencies''), have finalized the Interagency Advisory on the Unsafe and Unsound Use of Limitation of Liability Provisions in External Audit Engagement Letters (``Advisory''). The Advisory informs financial institutions'' boards of directors, audit committees, and management that they should not enter into agreements that incorporate unsafe and unsound external auditor limitation of liability provisions with respect to engagements for financial statement audits, audits of internal control over financial reporting, and attestations on management's assessment of internal control over financial reporting.