[Federal Register Volume 85, Number 72 (Tuesday, April 14, 2020)]
[Proposed Rules]
[Page 20618]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-07157]


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 Proposed Rules
                                                 Federal Register
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 This section of the FEDERAL REGISTER contains notices to the public of 
 the proposed issuance of rules and regulations. The purpose of these 
 notices is to give interested persons an opportunity to participate in 
 the rule making prior to the adoption of the final rules.
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  Federal Register / Vol. 85, No. 72 / Tuesday, April 14, 2020 / 
Proposed Rules  

[[Page 20618]]



NATIONAL CREDIT UNION ADMINISTRATION

12 CFR Parts 708a and 741

RIN 3313-AF10


Combination Transactions With Non-Credit Unions; Reopening of 
Comment Period

AGENCY: National Credit Union Administration (NCUA).

ACTION: Proposed rule; reopening of comment period.

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SUMMARY: On January 30, 2020, the NCUA Board (Board) published a Notice 
of Proposed Rulemaking (NPRM) in the Federal Register. The NPRM 
requested comment on the Board's proposal to add subpart D to part 708a 
of its regulations and clarify the scope of section 741.8 of the NCUA's 
regulations related to procedures and requirements for combination 
transactions. The NPRM provided a 60-day comment period that closed on 
March 30, 2020. To allow stakeholders more time to consider and submit 
their comments, the Board has determined to reopen the comment period 
for an additional 60 days.

DATES: The Board is reopening the comment period on the proposed rule 
that published January 30, 2020 at 85 FR 5336. Submit comments by June 
15, 2020.

ADDRESSES: You may submit comments by any of the following methods 
(Please send comments by one method only). Please note that the NCUA is 
now accepting electronic comments only through the Federal eRulemaking 
portal, Regulations.gov:
     Federal eRulemaking Portal: http://www.regulations.gov. 
Follow the instructions for submitting comments.
     Fax: (703) 518-6319. Use the subject line ``[Your name] 
Comments on Combination Transactions'' on the transmission cover sheet.
     Mail: Address to Gerard Poliquin, Secretary of the Board, 
National Credit Union Administration, 1775 Duke Street, Alexandria, 
Virginia 22314-3428.
     Hand Delivery/Courier: Same as mail address.
    Public inspection: All public comments are available on the 
agency's website at http://www.ncua.gov/RegulationsOpinionsLaws/comments as submitted, except as may not be possible for technical 
reasons. Public comments will not be edited to remove any identifying 
or contact information. Due to social distancing measures in effect 
through at least April 30, 2020, the usual opportunity to inspect paper 
copies of comments in the NCUA's law library is not currently 
available. After social distancing measures are relaxed, visitors may 
make an appointment to review paper copies by calling (703) 518-6540 or 
emailing [email protected].

FOR FURTHER INFORMATION CONTACT: Elizabeth Wirick, Senior Staff 
Attorney, Office of General Counsel, 1775 Duke Street, Alexandria, 
Virginia 22314, or by telephone at (703) 518-6540.

SUPPLEMENTARY INFORMATION: On January 30, 2020, the Board issued an 
NPRM proposing to clarify the procedures and requirements for 
combination transactions (85 FR 5336). Combination transactions include 
those where a federally insured credit union (FICU) proposes to assume 
liabilities from a non-credit union, including a bank, as well as a 
FICU's merger or consolidation with a non-credit union entity. The NPRM 
also clarified the scope of section 741.8 of the NCUA's regulations.
    The NPRM provided a 60-day public comment period that closed on 
March 30, 2020. In light of the challenges posed by the COVID-19 
(coronavirus infection) pandemic, various stakeholders requested 
additional time to comment on the proposed rule. The Board has 
determined that reopening the NPRM comment period, with comments now 
due June 15, 2020, is appropriate.


    By the National Credit Union Administration Board on March 28, 
2020.
Gerard Poliquin,
Secretary of the Board.
[FR Doc. 2020-07157 Filed 4-13-20; 8:45 am]
 BILLING CODE 7535-01-P