National Credit Union Administration 2007 – Federal Register Recent Federal Regulation Documents

Interagency Notice of Proposed Rulemaking: Procedures To Enhance the Accuracy and Integrity of Information Furnished to Consumer Reporting Agencies Under Section 312 of the Fair and Accurate Credit Transactions Act
Document Number: E7-23549
Type: Proposed Rule
Date: 2007-12-13
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions, Federal Reserve System, Federal Trade Commission, 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 OCC, Board, FDIC, OTS, NCUA, and FTC (Agencies) are publishing for comment proposed regulations and guidelines to implement the accuracy and integrity provisions in section 312 of the Fair and Accurate Credit Transactions Act of 2003 (FACT Act).\1\ The proposed regulations and guidelines would implement the requirement that the Agencies issue guidelines for use by furnishers regarding the accuracy and integrity of the information about consumers that they furnish to consumer reporting agencies and prescribe regulations requiring furnishers to establish reasonable policies and procedures for implementing the guidelines. The Agencies also are publishing for comment proposed regulations to implement the direct dispute provisions in section 312. The proposed regulations would implement the requirement that the Agencies issue regulations identifying the circumstances under which a furnisher must reinvestigate disputes about the accuracy of information contained in a consumer report based on a direct request from a consumer.
Notice of Meeting
Document Number: 07-6015
Type: Notice
Date: 2007-12-12
Agency: National Credit Union Administration, Agencies and Commissions
Agency Information Collection Activities: Submission for OMB Review; Joint Comment Request
Document Number: 07-5998
Type: Notice
Date: 2007-12-10
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions, Federal Reserve System, Federal Trade Commission, 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
Pursuant to the Paperwork Reduction Act, the OCC, FDIC, OTS, NCUA, and FTC are submitting for Office of Management and Budget (OMB) review the information collection associated with a proposed study that will use a written survey to be completed by financial institutions and other persons who are creditors or users of consumer reports. The Board has approved this information collection under its delegated authority from OMB. The Agencies will use the Survey responses to prepare the initial report to the Congress (the Report) on information sharing practices by financial institutions, creditors, or users of consumer reports with their affiliates. The Agencies are statutorily required to jointly submit the Report with any recommendations for legislative or regulatory action. To conduct the Survey, the OCC, FDIC, OTS, NCUA, and FTC first seek additional public comment regarding this notice, which is the second of two notices required by the PRA, and will seek OMB review of, and clearance for, the collection of information discussed herein.
Purchase, Sale, and Pledge of Eligible Obligations
Document Number: E7-22709
Type: Rule
Date: 2007-11-21
Agency: National Credit Union Administration, Agencies and Commissions
NCUA is amending its rule governing the purchase, sale, and pledge of eligible obligations by adding a conflict of interest provision substantially similar to the conflict of interest provision in NCUA's general lending rule. This addition will help ensure that decisions by a federal credit union (FCU) regarding the purchase, sale, and pledge of eligible obligations are made with the FCU's best interests in mind.
Sunshine Act; Notice of Meeting
Document Number: 07-5650
Type: Notice
Date: 2007-11-13
Agency: National Credit Union Administration, Agencies and Commissions
Identity Theft Red Flags and Address Discrepancies Under the Fair and Accurate Credit Transactions Act of 2003
Document Number: 07-5453
Type: Rule
Date: 2007-11-09
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions, Federal Reserve System, Federal Trade Commission, 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 OCC, Board, FDIC, OTS, NCUA and FTC (the Agencies) are jointly issuing final rules and guidelines implementing section 114 of the Fair and Accurate Credit Transactions Act of 2003 (FACT Act) and final rules implementing section 315 of the FACT Act. The rules implementing section 114 require each financial institution or creditor to develop and implement a written Identity Theft Prevention Program (Program) to detect, prevent, and mitigate identity theft in connection with the opening of certain accounts or certain existing accounts. In addition, the Agencies are issuing guidelines to assist financial institutions and creditors in the formulation and maintenance of a Program that satisfies the requirements of the rules. The rules implementing section 114 also require credit and debit card issuers to assess the validity of notifications of changes of address under certain circumstances. Additionally, the Agencies are issuing joint rules under section 315 that provide guidance regarding reasonable policies and procedures that a user of consumer reports must employ when a consumer reporting agency sends the user a notice of address discrepancy.
Fair Credit Reporting Affiliate Marketing Regulations
Document Number: 07-5349
Type: Rule
Date: 2007-11-07
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 OCC, Board, FDIC, OTS, and NCUA (Agencies) are publishing final rules to implement the affiliate marketing provisions in section 214 of the Fair and Accurate Credit Transactions Act of 2003, which amends the Fair Credit Reporting Act. The final rules generally prohibit a person from using information received from an affiliate to make a solicitation for marketing purposes to a consumer, unless the consumer is given notice and a reasonable opportunity and a reasonable and simple method to opt out of the making of such solicitations.
Federal Credit Union Bylaws
Document Number: E7-21397
Type: Rule
Date: 2007-10-31
Agency: National Credit Union Administration, Agencies and Commissions
NCUA is issuing a rule reincorporating the Federal Credit Union (FCU) Bylaws into NCUA regulations. This change clarifies NCUA's ability to use a range of enforcement authorities, in appropriate cases, to enforce the FCU Bylaws. In addition, NCUA is adding a bylaw provision on director succession, an issue it has previously addressed in legal opinions, and is revising the introduction to the Bylaws to conform it to these changes.
Agency Information Collection Activities: Submission to OMB for Review; Comment Request
Document Number: E7-21273
Type: Notice
Date: 2007-10-30
Agency: National Credit Union Administration, Agencies and Commissions
The NCUA intends to submit the following information collection to the Office of Management and Budget (OMB) for review and clearance under the Paperwork Reduction Act of 1995 (Public Law 104-13, 44 U.S.C. chapter 35). This information collection is published to obtain comments from the public.
Notice of Meeting
Document Number: 07-5230
Type: Notice
Date: 2007-10-22
Agency: National Credit Union Administration, Agencies and Commissions
Management Official Interlocks Threshold Change
Document Number: E7-20266
Type: Rule
Date: 2007-10-15
Agency: National Credit Union Administration, Agencies and Commissions
The NCUA is amending its management interlocks rule to conform it to a change the Financial Services Regulatory Relief Act of 2006 (FSRAA) made in the dollar threshold that triggers the prohibition on management officials serving at unaffiliated depository organizations. This final rule changes the threshold from $20 million to $50 million.
Member Inspection of Credit Union Books, Records, and Minutes
Document Number: E7-19557
Type: Rule
Date: 2007-10-03
Agency: National Credit Union Administration, Agencies and Commissions
The National Credit Union Administration (NCUA) is issuing a final rule on member inspection of federal credit union (FCU) books, records, and minutes. The rule provides that a group of members representing approximately one percent of the membership, with a proper purpose and upon petition, may inspect and copy nonconfidential portions of the credit union's books, records, and minutes. This rule standardizes and clarifies existing member inspection rights.
Agency Information Collection Activities: Submission to OMB for Review; Comment Request
Document Number: E7-19388
Type: Notice
Date: 2007-10-02
Agency: National Credit Union Administration, Agencies and Commissions
The NCUA intends to submit 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). This information collection is published to obtain comments from the public.
Proposed Guidance on Garnishment of Exempt Federal Benefit Funds
Document Number: 07-4783
Type: Notice
Date: 2007-09-28
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 Agencies are proposing guidance entitled Garnishment of Exempt Federal Benefit Funds. This proposed guidance has been developed to encourage financial institutions to have policies and procedures in place with respect to handling garnishment orders and sets forth best practices, including procedures designed to expedite notice to the consumer of the garnishment process and release of funds to the consumer as quickly as possible.
Agency Information Collection Activities: Submission to OMB for Extension of a Currently Approved Collection; Comment Request
Document Number: E7-19001
Type: Notice
Date: 2007-09-26
Agency: National Credit Union Administration, Agencies and Commissions
The NCUA intends to submit 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). This information collection is published to obtain comments from the public.
Agency Information Collection Activities: Submission to OMB for Extension of a Currently Approved Collection; Comment Request
Document Number: E7-18999
Type: Notice
Date: 2007-09-26
Agency: National Credit Union Administration, Agencies and Commissions
The NCUA intends to submit 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). This information collection is published to obtain comments from the public.
Agency Information Collection Activities: Submission to OMB for Review; Comment Request
Document Number: E7-18998
Type: Notice
Date: 2007-09-26
Agency: National Credit Union Administration, Agencies and Commissions
The NCUA intends to submit 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). This information collection is published to obtain comments from the public.
Agency Information Collection Activities: Submission to OMB for Extension of a Currently Approved Collection; Comment Request
Document Number: E7-18996
Type: Notice
Date: 2007-09-26
Agency: National Credit Union Administration, Agencies and Commissions
The NCUA intends to submit 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). This information collection is published to obtain comments from the public.
Agency Information Collection Activities: Submission to OMB for Extension of a Currently Approved Collection; Comment Request
Document Number: E7-18995
Type: Notice
Date: 2007-09-26
Agency: National Credit Union Administration, Agencies and Commissions
The NCUA intends to submit 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). This information collection is published to obtain comments from the public.
Agency Information Collection Activities: Submission to OMB for Extension of a Currently Approved Collection; Comment Request
Document Number: E7-18993
Type: Notice
Date: 2007-09-26
Agency: National Credit Union Administration, Agencies and Commissions
The NCUA intends to submit 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). This information collection is published to obtain comments from the public.
Agency Information Collection Activities: Submission to OMB for Extension of a Currently Approved Collection; Comment Request
Document Number: E7-18981
Type: Notice
Date: 2007-09-26
Agency: National Credit Union Administration, Agencies and Commissions
The NCUA intends to submit 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). This information collection is published to obtain comments from the public.
Agency Information Collection Activities: Submission to OMB for Review; Comment Request
Document Number: E7-18979
Type: Notice
Date: 2007-09-26
Agency: National Credit Union Administration, Agencies and Commissions
The NCUA intends to submit 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). This information collection is published to obtain comments from the public.
Agency Information Collection Activities: Submission to OMB for Review; Comment Request
Document Number: E7-18978
Type: Notice
Date: 2007-09-26
Agency: National Credit Union Administration, Agencies and Commissions
The NCUA intends to submit 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). This information collection is published to obtain comments from the public.
Agency Information Collection Activities: Submission to OMB for Review; Comment Request
Document Number: E7-18970
Type: Notice
Date: 2007-09-26
Agency: National Credit Union Administration, Agencies and Commissions
The NCUA intends to submit 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). This information collection is published to obtain comments from the public.
Notice of Meeting
Document Number: 07-4724
Type: Notice
Date: 2007-09-24
Agency: National Credit Union Administration, Agencies and Commissions
Agency Information Collection Activities: Submission to OMB for Extension of a Currently Approved Collection; Comment Request
Document Number: E7-17117
Type: Notice
Date: 2007-08-29
Agency: National Credit Union Administration, Agencies and Commissions
The NCUA intends to submit 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). This information collection is published to obtain comments from the public.
Agency Information Collection Activities: Submission to OMB for Extension of a Currently Approved Collection; Comment Request
Document Number: E7-17114
Type: Notice
Date: 2007-08-29
Agency: National Credit Union Administration, Agencies and Commissions
The NCUA intends to submit 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). This information collection is published to obtain comments from the public.
Agency Information Collection Activities: Submission to OMB for Review; Comment Request
Document Number: E7-17113
Type: Notice
Date: 2007-08-29
Agency: National Credit Union Administration, Agencies and Commissions
The NCUA intends to submit 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). This information collection is published to obtain comments from the public.
Agency Information Collection Activities: Submission to OMB for Extension of a Currently Approved Collection; Comment Request
Document Number: E7-17108
Type: Notice
Date: 2007-08-29
Agency: National Credit Union Administration, Agencies and Commissions
The NCUA intends to submit 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). This information collection is published to obtain comments from the public.
Agency Information Collection Activities: Submission to OMB for Review; Comment Request
Document Number: E7-17074
Type: Notice
Date: 2007-08-29
Agency: National Credit Union Administration, Agencies and Commissions
The NCUA intends to submit 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). This information collection is published to obtain comments from the public.
Agency Information Collection Activities: Submission to OMB for Review; Comment Request
Document Number: E7-17072
Type: Notice
Date: 2007-08-29
Agency: National Credit Union Administration, Agencies and Commissions
The NCUA intends to submit 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). This information collection is published to obtain comments from the public.
Agency Information Collection Activities: Submission to OMB for Review; Comment Request
Document Number: E7-17070
Type: Notice
Date: 2007-08-29
Agency: National Credit Union Administration, Agencies and Commissions
The NCUA intends to submit 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). This information collection is published to obtain comments from the public.
Agency Information Collection Activities: Submission to OMB for Extension of a Currently Approved Collection; Comment Request
Document Number: E7-17064
Type: Notice
Date: 2007-08-29
Agency: National Credit Union Administration, Agencies and Commissions
The NCUA intends to submit 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). This information collection is published to obtain comments from the public.
Agency Information Collection Activities: Submission to OMB for Extension of a Currently Approved Collection; Comment Request
Document Number: E7-17063
Type: Notice
Date: 2007-08-29
Agency: National Credit Union Administration, Agencies and Commissions
The NCUA intends to submit 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). This information collection is published to obtain comments from the public.
Agency Information Collection Activities: Submission to OMB for Extension of a Currently Approved Collection; Comment Request
Document Number: E7-17060
Type: Notice
Date: 2007-08-29
Agency: National Credit Union Administration, Agencies and Commissions
The NCUA intends to submit 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). This information collection is published to obtain comments from the public.
Proposed Illustrations of Consumer Information for Subprime Mortgage Lending
Document Number: 07-3945
Type: Notice
Date: 2007-08-14
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions, National Credit Union Administration, Office of the Comptroller of the Currency, Department of Treasury, Department of the Treasury, Office of Thrift Supervision, Board of Governors of the Federal Reserve System, Comptroller of the Currency
The OCC, Board, FDIC, OTS, and NCUA (the Agencies), request comment on these Proposed Illustrations of Consumer Information for Subprime Mortgage Lending. The illustrations are intended to assist institutions in providing consumer information as discussed in the consumer protection portion of the Agencies' Statement on Subprime Mortgage Lending (Subprime Statement). The illustrations are not intended as model forms, and institutions will not be required to use them. Rather, they are provided to respond to the requests of commenters that the Agencies provide uniform disclosures for, or illustrations of, the type of consumer information contemplated by the Subprime Statement.
Records Preservation Program and Appendices-Record Retention Guidelines; Catastrophic Act Preparedness Guidelines
Document Number: E7-14851
Type: Rule
Date: 2007-08-02
Agency: National Credit Union Administration, Agencies and Commissions
NCUA is issuing a final rule to amend its regulations regarding a federally-insured credit union's obligation to maintain a records preservation program. The final rule clarifies the meaning of catastrophic act and the requirements for preserving vital records. The agency also provides a new Appendix B that offers guidelines for developing a program to prepare for a catastrophic act. NCUA believes the revised rule language and new appendix will facilitate the recovery of essential operations after a catastrophic act resulting in continued member confidence in the credit union system.
Permissible Foreign Currency Investments for Federal Credit Unions and Corporate Credit Unions
Document Number: E7-14849
Type: Proposed Rule
Date: 2007-08-01
Agency: National Credit Union Administration, Agencies and Commissions
NCUA is considering whether to amend its investment rules to permit natural person federal credit unions (FCUs) and corporate credit unions (corporates) to make certain investments denominated in foreign currency. NCUA seeks comment on whether FCUs and corporates should be permitted to make these investments and the safety and soundness considerations related to such authority.
Sunshine Act; Notice of Meeting
Document Number: 07-3613
Type: Notice
Date: 2007-07-23
Agency: National Credit Union Administration, Agencies and Commissions
Statement on Subprime Mortgage Lending
Document Number: 07-3316
Type: Notice
Date: 2007-07-10
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 Agencies are issuing a final interagency Statement on Subprime Mortgage Lending. This guidance has been developed to clarify how institutions can offer certain adjustable rate mortgage (ARM) products in a safe and sound manner, and in a way that clearly discloses the risks that borrowers may assume.
Federal Credit Union Bylaws
Document Number: E7-13273
Type: Proposed Rule
Date: 2007-07-09
Agency: National Credit Union Administration, Agencies and Commissions
The NCUA Board recently issued a proposed rule to reincorporate the Federal Credit Union (FCU) Bylaws into NCUA regulations that provided a 60-day comment period. 72 FR 30984 (June 5, 2007). NCUA received a request to extend the comment period and the NCUA Board has decided to extend the comment period for an additional two weeks.
Purchase, Sale, and Pledge of Eligible Obligations
Document Number: E7-12378
Type: Proposed Rule
Date: 2007-06-27
Agency: National Credit Union Administration, Agencies and Commissions
NCUA proposes to amend its rule governing the purchase, sale, and pledge of eligible obligations, as a result of recommendations from its annual regulatory review process, by adding a conflict of interest provision substantially similar to the conflict of interest provision in NCUA's general lending rule. This addition is intended to help ensure that a federal credit union's (FCU) decisions regarding the purchase, sale, and pledge of eligible obligations are made with the FCU's best interests in mind.
Agency Information Collection Activities: Submission to OMB for Review; Comment Request
Document Number: E7-12059
Type: Notice
Date: 2007-06-22
Agency: National Credit Union Administration, Agencies and Commissions
The NCUA is resubmitting 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). This information collection is published to obtain comments from the public.
Sunshine Act; Notice of Meeting
Document Number: 07-3027
Type: Notice
Date: 2007-06-18
Agency: National Credit Union Administration, Agencies and Commissions
Illustrations of Consumer Information for Nontraditional Mortgage Products
Document Number: 07-2859
Type: Notice
Date: 2007-06-08
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 Agencies are publishing three documents that set forth Illustrations of Consumer Information for Nontraditional Mortgage Products. The illustrations are intended to assist institutions in implementing the consumer protection portion of the Interagency Guidance on Nontraditional Mortgage Product Risks (Interagency NTM Guidance) adopted on October 4, 2006. 71 FR 58609 (Oct. 4, 2006). The illustrations are not model forms and institutions may choose not to use them in providing information to consumers on nontraditional mortgage products as recommended in the Interagency NTM Guidance.
Chartering and Field of Membership for Federal Credit Unions
Document Number: E7-10398
Type: Proposed Rule
Date: 2007-06-05
Agency: National Credit Union Administration, Agencies and Commissions
The NCUA Board is proposing amendments to its chartering and field of membership manual to update community chartering policies in response to NCUA's experience with reviewing applications of credit unions seeking community charters. These changes include clarifying the documentation requirements for a local community and adding a public comment procedure for certain types of multiple political jurisdiction community charter applications.
Federal Credit Union Bylaws
Document Number: E7-10389
Type: Proposed Rule
Date: 2007-06-05
Agency: National Credit Union Administration, Agencies and Commissions
NCUA is proposing to reincorporate the Federal Credit Union (FCU) Bylaws into NCUA regulations. This change clarifies NCUA's ability to use a range of enforcement authorities, in appropriate cases, to enforce the FCU Bylaws. In addition, NCUA is adding a bylaw provision on director succession, an issue it has previously addressed in legal opinions, and is revising the introduction to the Bylaws to conform it to these changes.
Technical Amendments
Document Number: E7-10392
Type: Rule
Date: 2007-05-31
Agency: National Credit Union Administration, Agencies and Commissions
NCUA is amending a number of its regulations by making minor technical corrections, clarifications and grammatical changes. Among those amendments is the addition of a cross-reference between two regulations addressing credit union borrowing authority; addition of a statement in the provision on insurance coverage for volunteer officials to note, when a federal credit union (FCU) cancels coverage, it must comply with any other applicable laws allowing an official to continue coverage at his or her own expense; and clarification that indemnification for dual employees is limited to activities on behalf of the FCU. NCUA is also removing certain regulatory references to NCUA's FCU Bylaws that are no longer accurate due to revisions to the Bylaws. The amendments generally are improvements alerting users to other relevant provisions, responsibilities, or limitations.
Notice of Meeting
Document Number: 07-2548
Type: Notice
Date: 2007-05-21
Agency: National Credit Union Administration, Agencies and Commissions
Agency Information Collection Activities: Submission to OMB for Extension of a Currently Approved Collection; Comment Request
Document Number: E7-9231
Type: Notice
Date: 2007-05-15
Agency: National Credit Union Administration, Agencies and Commissions
The NCUA intends to submit 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). This information collection is published to obtain comments from the public.