National Credit Union Administration May 2013 – Federal Register Recent Federal Regulation Documents

Technical Amendments
Document Number: 2013-12640
Type: Rule
Date: 2013-05-31
Agency: National Credit Union Administration, Agencies and Commissions
The NCUA Board (Board) is making a number of technical amendments to NCUA's regulations based on issues identified by staff and through NCUA's rolling, three-year regulatory review process. In addition, the Board is making a number of nomenclature changes to NCUA's regulations to reflect changes to NCUA's office structure, including the transfer of duties and the creation of the new Office of National Examinations and Supervision (ONES). Finally, under title X of the Dodd-Frank Wall Street Reform and Consumer Protection Act \1\ (Dodd-Frank Act), rulemaking authority for a number of consumer financial protection laws were transferred from various federal regulatory agencies, including NCUA, to the Consumer Financial Protection Bureau (CFPB). As a result, the Board is now updating certain cross citations within its regulations and rescinding NCUA's rules governing the ``Privacy of Consumer Financial Information'' under the Gramm-Leach-Bliley Act \2\ and the ``Registration of Residential Mortgage Loan Originators'' under the Secure and Fair Enforcement for Mortgage Licensing Act of 2008,\3\ which were transferred to the CFPB.
Derivatives
Document Number: 2013-12638
Type: Proposed Rule
Date: 2013-05-29
Agency: National Credit Union Administration, Agencies and Commissions
This proposed rule permits credit unions to engage in limited derivatives activities for the purpose of mitigating interest rate risk. This proposed rule applies to federal credit unions and any federally insured, state-chartered credit unions that are permitted under applicable state law to engage in derivatives transactions. It requires any credit union seeking derivatives authority to submit an application for one of two levels of authority. Level I and Level II authority differ on the permissible levels of transactions as well as the application, expertise, and systems requirements associated with operating a derivatives program.
Sunshine Act; Meeting Notice
Document Number: 2013-11429
Type: Notice
Date: 2013-05-14
Agency: National Credit Union Administration, Agencies and Commissions
Agency Information Collection Activities: Submission to OMB for Revision to a Currently Approved Collection; Comment Request
Document Number: 2013-10551
Type: Notice
Date: 2013-05-03
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. NCUA is proposing to streamline the Community Development Revolving Loan Fund (CDRLF)Loan Program collection to include the CDRLF Technical Assistance (Grant) Program. Both the CDRLFLoan Program and the CDRLFTechnical Assistance (Grant) Program are administered under the NCUA Rules and Regulations Section 705. 12 CFR Part 705. This request seeks to merge elements of both the loan and grant programs into the same collection and application in order to increase program accessibility and internal and external efficiencies. The newly combined application will soon be available on-line and low- income designated credit unions will be able to apply for either a CDRLF loan or grant by accessing the same on-line application system.
Agency Information Collection Activities: Proposed Collection; Comment Request; Generic Clearance for the Collection of Qualitative Feedback on Agency Service Delivery
Document Number: 2013-10549
Type: Notice
Date: 2013-05-03
Agency: National Credit Union Administration, Agencies and Commissions
As part of a Federal Government-wide effort to streamline the process to seek feedback from the public on service delivery, NCUA has submitted a Generic Information Collection Request (Generic ICR): ``Generic Clearance for the Collection of Qualitative Feedback on Agency Service Delivery '' to OMB for approval under the Paperwork Reduction Act (PRA) (44 U.S.C. 3501 et. seq.).
Agency Information Collection Activities: Submission to OMB for Revision to a Currently Approved Information Collection; Comment Request
Document Number: 2013-10544
Type: Notice
Date: 2013-05-03
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. NCUA is proposing a data collection change to the credit union Profile as well as the 5300 Call Report. NCUA is proposing to add fields to the General, Information Systems and Technology, Regulatory, Disaster Recovery, Member Services and Grant sections of the Profile. This data will assist NCUA in monitoring and supervising credit unions. On the 5300 Call Report, NCUA is proposing to add fields to the Miscellaneous Loan Information, Additional Share Information, Miscellaneous, Delinquency, Loan Charge Off and Recoveries, Liquidity, Commitments and Sources, Purchased Credit Impaired Loans, and Supplemental Investment Information sections. The new data collection provides more detailed delinquent, charge off and recovery loan information. Additionally, these fields provide information for offsite monitoring of risks to the National Credit Union Share Insurance Fund.
Agency Information Collection Activities: Submission to OMB for a New Collection; Comment Request
Document Number: 2013-10541
Type: Notice
Date: 2013-05-03
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 notice is published to obtain comments from the public. The NCUA is proposing a new information collection related to its solicitation of proposals for outside legal counsel (outside counsel) to assist and advise the NCUA in its various capacities. The information will assist the NCUA in further: (i) Standardizing the data it uses to select outside counsel; (ii) considering additional criteria in making its selections; and (iii) improving efficiency and recordkeeping related to its selection process.
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