National Credit Union Administration August 2010 – Federal Register Recent Federal Regulation Documents

Sunshine Act; Meeting Notice
Document Number: 2010-21858
Type: Notice
Date: 2010-08-31
Agency: National Credit Union Administration, Agencies and Commissions
Reverse Mortgage Products: Guidance for Managing Compliance and Reputation Risks
Document Number: 2010-20286
Type: Notice
Date: 2010-08-17
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 OCC, FRB, FDIC, OTS, and NCUA (the Agencies) are issuing this final guidance entitled, ``Reverse Mortgage Products: Guidance for Managing Compliance and Reputation Risks'' (guidance). The Agencies developed this guidance, in conjunction with the State Liaison Committee of the Federal Financial Institutions Examination Council
The Low-Income Definition
Document Number: 2010-19099
Type: Rule
Date: 2010-08-05
Agency: National Credit Union Administration, Agencies and Commissions
NCUA is amending the definition of ``low-income members'' to clarify that, in determining if a credit union qualifies for a low- income designation, the comparison of credit union data, whether individual or family income data, must be with statistical data for the same category. The amendment will clarify the intention of the original regulatory text so it is consistent with the geo-coding software the agency uses to make the low-income credit union (LICU) designation.
Golden Parachute and Indemnification Payments
Document Number: 2010-19095
Type: Proposed Rule
Date: 2010-08-05
Agency: National Credit Union Administration, Agencies and Commissions
NCUA proposes to adopt a rule to prohibit, with some exceptions, a federally insured credit union (FICU) from making golden parachute and indemnification payments to an institution-affiliated party (IAP). The proposed rule is intended to help safeguard the National Credit Union Share Insurance Fund (NCUSIF) by preventing the wrongful or improper disposition of FICU assets and to inhibit unwarranted rewards to IAPs who may have contributed to an FICU's troubled condition. The proposed rule would also provide FICUs with greater clarity on the distinction between legitimate employee severance payments and improper golden parachute payments.
Truth in Savings
Document Number: 2010-19090
Type: Rule
Date: 2010-08-05
Agency: National Credit Union Administration, Agencies and Commissions
On July 22, 2009, NCUA published a final rule amending part 707, which implements the Truth in Savings Act, and the official staff
Sunshine Act; Notice of Agency Meeting
Document Number: 2010-19208
Type: Notice
Date: 2010-08-04
Agency: National Credit Union Administration, Agencies and Commissions