[Unified Agenda of Federal Regulatory and Deregulatory Actions]
[National Credit Union Administration Semiannual Regulatory Agenda]
[From the U.S. Government Printing Office, www.gpo.gov]


[[Page 26587]]

Part LVIII





National Credit Union Administration





_______________________________________________________________________



Semiannual Regulatory Agenda

[[Page 26588]]



NATIONAL CREDIT UNION ADMINISTRATION (NCUA)                            


  



_______________________________________________________________________

NATIONAL CREDIT UNION ADMINISTRATION

12 CFR Ch. VII

Semiannual Regulatory Agenda

AGENCY:  National Credit Union Administration (NCUA).

ACTION:  Semiannual regulatory agenda.

_______________________________________________________________________

SUMMARY:  Pursuant to its ongoing policy of reviewing regulations, NCUA 
is publishing a list of current and projected rulemakings, reviews of 
existing regulations, and completed actions as of January 31, 2001, to 
be included in the Unified Agenda of Federal Regulatory and 
Deregulatory Actions.

DATES:  This information is current as of January 31, 2001.

ADDRESSES:  National Credit Union Administration, 1775 Duke Street, 
Alexandria, Virginia 22314-3428.

FOR FURTHER INFORMATION CONTACT:  For each regulation listed, the 
person(s) named in the listing, at the above address, unless otherwise 
noted, or listed telephone number.

SUPPLEMENTARY INFORMATION:  The purpose of this agenda is to enable 
credit unions and the public to follow regulatory development and 
review at NCUA, and participate in that process more effectively. 
Entries for the Agenda appear in one of five possible categories: 
prerule stage; proposed rule stage; final rule stage; long-term 
actions; or completed actions.

    The agenda is published pursuant to NCUA Interpretive Ruling 
and Policy Statement Number 87-2, ``Developing and Reviewing 
Government Regulations,'' 54 FR 35231, (September 18, 1987), which 
sets out NCUA's policy and procedures for developing and reviewing 
its regulations. NCUA's policy is to ensure that its regulations 
impose only minimum required burdens on credit unions, consumers, 
and the public; are appropriate for the size of the financial 
institutions it regulates; are issued only after full public 
participation; and are clear and understandable. Further, NCUA 
undertakes to review all regulations every three years to clarify 
and simplify existing regulations and eliminate redundant and 
unnecessary provisions.

    Executive Order 12866, signed by President Clinton on September 
30, 1993, requires independent executive agencies such as NCUA to 
publish a regulatory agenda.

    Approved by the NCUA Board on February 15, 2001.

 Becky Baker,

Secretary of the Board.

                               National Credit Union Administration--Prerule Stage
----------------------------------------------------------------------------------------------------------------
                                                                                                    Regulation
 Sequence                                          Title                                          Identification
  Number                                                                                              Number
----------------------------------------------------------------------------------------------------------------
4356        Credit Practices....................................................................     3133-AC43
----------------------------------------------------------------------------------------------------------------


                            National Credit Union Administration--Proposed Rule Stage
----------------------------------------------------------------------------------------------------------------
                                                                                                    Regulation
 Sequence                                          Title                                          Identification
  Number                                                                                              Number
----------------------------------------------------------------------------------------------------------------
4357        Corporate Credit Unions.............................................................     3133-AC28
4358        Requirements for Insurance..........................................................     3133-AC33
4359        Credit Practices....................................................................     3133-AC34
4360        Regulatory Flexibility and Exemption Program........................................     3133-AC38
4361        Records Preservation Program........................................................     3133-AC41
4362        Credit Union Service Organizations (CUSOs)..........................................     3133-AC45
4363        Requirements for Insurance..........................................................     3133-AC46
4364        Investment and Deposit Activities...................................................     3133-AC49
4365        Eligible Obligations -- Conflict of Interest Provision..............................     3133-AC51
4366        Definitions and Technical Amendments................................................     3133-AC53
4367        Reimbursement, Insurance, and Indemnification of Officials and Employees............     3133-AC54
----------------------------------------------------------------------------------------------------------------


                             National Credit Union Administration--Final Rule Stage
----------------------------------------------------------------------------------------------------------------
                                                                                                    Regulation
 Sequence                                          Title                                          Identification
  Number                                                                                              Number
----------------------------------------------------------------------------------------------------------------
4368        Federal Credit Union Incidental Powers Activities...................................     3133-AC07
4369        Prepayment Fees to Federal Home Loan Bank...........................................     3133-AC44
4370        Community Development Revolving Loan Program for Credit Unions......................     3133-AC47
4371        Proposed Interpretive Ruling and Policy Statement (IRPS-00-2) Central Liquidity          3133-AC48
            Facility Advance Policy.............................................................
4372        OMB Control Numbers.................................................................     3133-AC52
4373        Requirements for Insurance (Subpart B)..............................................     3133-AC55
----------------------------------------------------------------------------------------------------------------


[[Page 26589]]


                             National Credit Union Administration--Completed Actions
----------------------------------------------------------------------------------------------------------------
                                                                                                    Regulation
 Sequence                                          Title                                          Identification
  Number                                                                                              Number
----------------------------------------------------------------------------------------------------------------
4374        Federal Credit Union Chartering, Field of Membership Modifications and Conversions..     3133-AC27
4375        Exemptions (Privacy Act)............................................................     3133-AC42
4376        Guidelines for Safeguarding Member Information......................................     3133-AC50
----------------------------------------------------------------------------------------------------------------

_______________________________________________________________________


NATIONAL CREDIT UNION ADMINISTRATION (NCUA)               Prerule Stage


  



_______________________________________________________________________




4356. CREDIT PRACTICES

Priority: Substantive, Nonsignificant

Legal Authority: 15 USC 57a; 15 USC 1681b

CFR Citation: 12 CFR 706

Legal Deadline: None

Abstract: Along with the bank regulatory agencies, NCUA intends to 
issue a very broad advance notice of proposed rulemaking seeking 
comment on aspects of the Fair Credit Reporting Act that require 
clarification through regulations.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

End Review                      04/00/01

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

Government Levels Affected: None

Agency Contact: Chrisanthy J. Loizos, Staff Attorney, National Credit 
Union Administration, 1775 Duke Street, Alexandria, VA 22314
Phone: 703 518-6567
Fax: 703 518-6569
Email: [email protected]

RIN: 3133-AC43
_______________________________________________________________________


NATIONAL CREDIT UNION ADMINISTRATION (NCUA)         Proposed Rule Stage


  



_______________________________________________________________________




4357. CORPORATE CREDIT UNIONS

Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is 
undetermined.

Legal Authority: 12 USC 1762; 12 USC 1766(a); 12 USC 1781; 12 USC 1789

CFR Citation: 12 CFR 704

Legal Deadline: None

Abstract: NCUA requests public comment on revisions to the rule 
governing corporate credit unions. As part of its regulatory review 
process, NCUA has identified provisions for further clarification or 
revision. Comments on these issues will assist NCUA in its regulatory 
review process.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

ANPRM                           07/28/99                    64 FR 40787
ANPRM Comment Period End        11/26/99
ANPRM                           11/22/00                    65 FR 70319
ANPRM Comment Period End        02/20/01
NPRM                            07/00/01

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

Government Levels Affected: None

Agency Contact: Mary F. Rupp, Staff Attorney, Office of General 
Counsel, National Credit Union Administration, 1775 Duke Street, 
Alexandria, VA 22314-3428
Phone: 703 518-6540
Email: [email protected]

RIN: 3133-AC28
_______________________________________________________________________




4358. REQUIREMENTS FOR INSURANCE

Priority: Substantive, Nonsignificant

Legal Authority: 12 USC 1756 to 1757; 12 USC 1757A; 12 USC 1766; 12 USC 
1785; 12 USC 1781

CFR Citation: 12 CFR 741

Legal Deadline: None

Abstract: NCUA is soliciting public comment on whether NCUA should 
adopt a regulation that would restrict the insurance coverage for 
State-chartered credit unions that open branches outside the United 
States.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

ANPRM                           09/14/00                    65 FR 55464
NPRM                            05/00/01

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

Government Levels Affected: Undetermined

Federalism:  Undetermined

Agency Contact: Michael J. McKenna, Senior Staff Attorney, Office of 
General Counsel, National Credit Union Administration, 1775 Duke 
Street, Alexandria, VA 22314-3428
Phone: 703 518-6562
Email: [email protected]

RIN: 3133-AC33
_______________________________________________________________________




4359. CREDIT PRACTICES

Priority: Substantive, Nonsignificant

Legal Authority: 15 USC 57a; 15 USC 1681b

CFR Citation: 12 CFR 706

Legal Deadline: None

Abstract: NCUA will promulgate a regulation under the Fair Credit 
Reporting Act that addresses the sharing of opt out information between 
Federal credit unions and their affiliates.

[[Page 26590]]

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            10/26/00                    65 FR 64168
NPRM Comment Period End         12/26/00
NPRM                            05/00/01
NPRM Comment Period End         07/00/01
Final Action                    01/00/02

Regulatory Flexibility Analysis Required: No

Government Levels Affected: None

Agency Contact: Chrisanthy J. Loizos, Staff Attorney, National Credit 
Union Administration, 1775 Duke Street, Alexandria, VA 22314
Phone: 703 518-6567
Fax: 703 518-6569
Email: [email protected]

RIN: 3133-AC34
_______________________________________________________________________




4360. REGULATORY FLEXIBILITY AND EXEMPTION PROGRAM

Priority: Substantive, Nonsignificant

Legal Authority: 12 USC 1757; 12 USC 1756; 12 USC 1766

CFR Citation: 12 CFR 742

Legal Deadline: None

Abstract: NCUA solicited public comment on whether NCUA should adopt a 
regulation that would permit well-capitalized credit unions to be 
exempt from certain NCUA regulations, in whole or in part. A proposed 
rule is scheduled for March 2001.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

ANPRM                           03/22/00                    65 FR 15275
ANPRM Comment Period End        05/22/00
NPRM                            03/15/01                    66 FR 15055
NPRM Comment Period End         05/14/01
Final Action                    09/00/01

Regulatory Flexibility Analysis Required: Undetermined

Government Levels Affected: None

Agency Contact: Michael J. McKenna, Senior Staff Attorney, Office of 
General Counsel, National Credit Union Administration, 1775 Duke 
Street, Alexandria, VA 22314-3428
Phone: 703 518-6562
Email: [email protected]

RIN: 3133-AC38
_______________________________________________________________________




4361. RECORDS PRESERVATION PROGRAM

Priority: Substantive, Nonsignificant

Legal Authority: 12 USC 1766

CFR Citation: 12 CFR 749

Legal Deadline: None

Abstract: Review and update provisions regarding record retention 
requirements and electronic storage.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            02/23/01                    66 FR 11239
NPRM Comment Period End         04/24/01
Final Action                    07/00/01

Regulatory Flexibility Analysis Required: Undetermined

Government Levels Affected: None

Agency Contact: Dianne M. Salva, Staff Attorney, Office of General 
Counsel, National Credit Union Administration, 1775 Duke Street, 
Alexandria, VA 22314-3428
Phone: 703 518-6540
Email: [email protected]

RIN: 3133-AC41
_______________________________________________________________________




4362.  CREDIT UNION SERVICE ORGANIZATIONS (CUSOS)

Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is 
undetermined.

Legal Authority: 12 USC 1756; 12 USC 1757(5)(D) and (7)(I); 12 USC 
1766; 12 USC 1782; 12 USC 1784; ...

CFR Citation: 12 CFR 712

Legal Deadline: None

Abstract: The proposed rule clarifies that the list of permissible 
activities in the CUSO rule is intended to establish broad categories 
of permissible activities and that the listings under these categories 
are illustrative not exhaustive. The proposal also adds a federally 
chartered corporation to the list of permissible structures for a CUSO.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            02/22/01                    66 FR 11125
NPRM Comment Period End         04/23/01
Final Action                    07/00/01

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

Government Levels Affected: None

Agency Contact: Mary F. Rupp, Staff Attorney, Office of General 
Counsel, National Credit Union Administration, 1775 Duke Street, 
Alexandria, VA 22314-3428
Phone: 703 518-6540
Email: [email protected]

RIN: 3133-AC45
_______________________________________________________________________




4363.  REQUIREMENTS FOR INSURANCE

Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is 
undetermined.

Legal Authority: 12 USC 1757; 12 USC 1766; 12 USC 1781 to 1790

CFR Citation: 12 CFR 741

Legal Deadline: None

Abstract: Currently, only credit unions with over $50,000,000 in assets 
file quarterly call reports. NCUA is considering moving to a risk-
based, flexible schedule examination program. This proposal will 
request comment on whether, as a condition of implementation of that 
program, all credit unions should file quarterly call reports.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            12/00/01

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

Government Levels Affected: None

Agency Contact: Mary F. Rupp, Staff Attorney, Office of General 
Counsel, National Credit Union Administration, 1775 Duke Street, 
Alexandria, VA 22314-3428
Phone: 703 518-6540
Email: [email protected]

RIN: 3133-AC46
_______________________________________________________________________




4364.  INVESTMENT AND DEPOSIT ACTIVITIES

Priority: Substantive, Nonsignificant

Legal Authority: 12 USC 1757(7); 12 USC 1757(8); 12 USC 1757(15)

CFR Citation: 12 CFR 703

Legal Deadline: None

Abstract: The proposed rule intends to update and clarify NCUA's 
investment and deposit activities rules.

[[Page 26591]]

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            05/00/01
NPRM Comment Period End         07/00/01

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

Government Levels Affected: None

Agency Contact: Frank S. Kressman, Staff Attorney, Office of General 
Counsel, National Credit Union Administration, 1775 Duke Street, 
Alexandria, VA 22314-3428
Phone: 703 518-6558
Fax: 703 518-6569
Email: [email protected]

RIN: 3133-AC49
_______________________________________________________________________




4365.  ELIGIBLE OBLIGATIONS -- CONFLICT OF INTEREST PROVISION

Priority: Substantive, Nonsignificant

Legal Authority: 12 USC 1752(5); 12 USC 1755-1657; 12 USC 1759; 12 USC 
1761a

CFR Citation: 12 CFR 701.23

Legal Deadline: None

Abstract: Section 701.23 sets forth the requirements for purchasing, 
selling, and pledging eligible obligations (loans) by Federal credit 
unions. NCUA plans to propose a conflict of interest provision for this 
section, similar to section 701.21(c)(8)(i) of the lending rule.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            06/00/01

Regulatory Flexibility Analysis Required: Undetermined

Small Entities Affected: No

Government Levels Affected: None

Federalism:  Undetermined

Agency Contact: Regina M. Metz, Staff Attorney, Office of General 
Counsel, National Credit Union Administration, 1775 Duke Street, 
Alexandria, VA 22314
Phone: 703 518-6540
Email: [email protected]

RIN: 3133-AC51
_______________________________________________________________________




4366.  DEFINITIONS AND TECHNICAL AMENDMENTS

Priority: Substantive, Nonsignificant

Legal Authority: 12 USC 1752; 12 USC 1757(6); 12 USC 1766

CFR Citation: 12 CFR 700

Legal Deadline: None

Abstract: NCUA plans to add new definitions and remove obsolete 
references and definitions.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            06/00/01

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

Government Levels Affected: None

Agency Contact: Regina M. Metz, Staff Attorney, Office of General 
Counsel, National Credit Union Administration, 1775 Duke Street, 
Alexandria, VA 22314
Phone: 703 518-6540
Email: [email protected]

RIN: 3133-AC53
_______________________________________________________________________




4367.  REIMBURSEMENT, INSURANCE, AND INDEMNIFICATION OF 
OFFICIALS AND EMPLOYEES

Priority: Substantive, Nonsignificant

Legal Authority: Not Yet Determined

CFR Citation: 12 CFR 701.33

Legal Deadline: None

Abstract: Revise regulation to clarify, streamline and update to 
include recent interpretations.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            06/00/01
NPRM Comment Period End         08/00/01
Final Action                    10/00/01

Regulatory Flexibility Analysis Required: Undetermined

Government Levels Affected: None

Agency Contact: Dianne M. Salva, Staff Attorney, Office of General 
Counsel, National Credit Union Administration, 1775 Duke Street, 
Alexandria, VA 22314-3428
Phone: 703 518-6540
Email: [email protected]

RIN: 3133-AC54
_______________________________________________________________________


NATIONAL CREDIT UNION ADMINISTRATION (NCUA)            Final Rule Stage


  



_______________________________________________________________________




4368. FEDERAL CREDIT UNION INCIDENTAL POWERS ACTIVITIES

Priority: Substantive, Nonsignificant

Legal Authority: 12 USC 1757(16); 12 USC 1766; 12 USC 1789

CFR Citation: 12 CFR 721

Legal Deadline: None

Abstract: The regulation proposes to revise this part to categorize 
activities deemed to be within the incidental powers of a Federal 
credit union.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

ANPRM                           11/26/99                    64 FR 66413
NPRM                            11/24/00                    65 FR 70526
Final Rule                      09/00/01

Regulatory Flexibility Analysis Required: No

Government Levels Affected: None

Agency Contact: Michael J. McKenna, Senior Staff Attorney, Office of 
General Counsel, National Credit Union Administration, 1775 Duke 
Street, Alexandria, VA 22314-3428
Phone: 703 518-6562
Email: [email protected]

RIN: 3133-AC07
_______________________________________________________________________




4369.  PREPAYMENT FEES TO FEDERAL HOME LOAN BANK

Priority: Substantive, Nonsignificant

Legal Authority: 12 USC 1787

CFR Citation: 12 CFR 709

Legal Deadline: None

Abstract: NCUA is adopting a rule clarifying that as conservator or 
liquidating agent of a federally-insured credit union, the NCUA Board 
will honor a claim for prepayment fees by a Federal Home Loan Bank 
under certain circumstances.

[[Page 26592]]

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

Interim Final Rule Comment 
Period End                      04/24/01
Interim Final Rule              04/00/01
Final Action                    06/00/01
Final Action Effective          07/00/01

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

Government Levels Affected: None

Agency Contact: Chrisanthy J. Loizos, Staff Attorney, National Credit 
Union Administration, 1775 Duke Street, Alexandria, VA 22314
Phone: 703 518-6567
Fax: 703 518-6569
Email: [email protected]

RIN: 3133-AC44
_______________________________________________________________________




4370.  COMMUNITY DEVELOPMENT REVOLVING LOAN PROGRAM FOR CREDIT 
UNIONS

Priority: Substantive, Nonsignificant

Legal Authority: 12 USC 1772C-1; 42 USC 9822

CFR Citation: 12 CFR 705

Legal Deadline: None

Abstract: The NCUA is revising its regulations pertaining to the 
Community Development Revolving Loan Program for Credit Unions (CDRLP) 
to make more flexible the manner in which NCUA may deliver technical 
assistance to participating credit unions. This revision reflects the 
board authority granted to NCUA by the Federal Credit Union Act (Act) 
in this context.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

Interim Final Rule              12/21/00                    65 FR 80298
Interim Final Rule Effective    12/21/00
Interim Final Rule Comment 
Period End                      02/20/01
Final Action                    04/00/01
Final Action Effective          04/00/01

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

Government Levels Affected: None

Agency Contact: Frank S. Kressman, Staff Attorney, Office of General 
Counsel, National Credit Union Administration, 1775 Duke Street, 
Alexandria, VA 22314-3428
Phone: 703 518-6558
Fax: 703 518-6569
Email: [email protected]

RIN: 3133-AC47
_______________________________________________________________________




4371.  PROPOSED INTERPRETIVE RULING AND POLICY STATEMENT (IRPS-
00-2) CENTRAL LIQUIDITY FACILITY ADVANCE POLICY

Priority: Substantive, Nonsignificant

Legal Authority: 12 USC 1795 to 1795F

CFR Citation: 12 CFR 725

Legal Deadline: None

Abstract: The policy statement is intended to clarify the role of the 
Central Liquidity Facility (CLF) and the circumstances when the CLF 
will approve a regulaor or agent member's request for a CLF advance.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            10/25/00                    65 FR 63892
NPRM Comment Period End         01/23/01
Final Action                    04/00/01
Final Action Effective          05/00/01

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

Government Levels Affected: None

Agency Contact: Frank S. Kressman, Staff Attorney, Office of General 
Counsel, National Credit Union Administration, 1775 Duke Street, 
Alexandria, VA 22314-3428
Phone: 703 518-6558
Fax: 703 518-6569
Email: [email protected]

RIN: 3133-AC48
_______________________________________________________________________




4372.  OMB CONTROL NUMBERS

Priority: Substantive, Nonsignificant

Legal Authority: 12 USC 1766(a); 5 USC 3507(f)

CFR Citation: 12 CFR 795

Legal Deadline: None

Abstract: NCUA plans to update the display table that lists the current 
OMB control numbers and the 12 CFR part or section where each number is 
described or identified.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

Final Action                    11/00/01

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

Government Levels Affected: None

Agency Contact: Regina M. Metz, Staff Attorney, Office of General 
Counsel, National Credit Union Administration, 1775 Duke Street, 
Alexandria, VA 22314
Phone: 703 518-6540
Email: [email protected]

RIN: 3133-AC52
_______________________________________________________________________




4373.  REQUIREMENTS FOR INSURANCE (SUBPART B)

Priority: Substantive, Nonsignificant

Legal Authority: 12 USC 1757, 1766 and 1781-1790; 31 USC 3717

CFR Citation: 12 CFR 741

Legal Deadline: None

Abstract: Revise part 741 to include a cross-reference to part 702, 
Prompt Corrective Action.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

Final Action                    06/00/01

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

Government Levels Affected: None

Agency Contact: Frank S. Kressman, Staff Attorney, Office of General 
Counsel, National Credit Union Administration, 1775 Duke Street, 
Alexandria, VA 22314-3428
Phone: 703 518-6558
Fax: 703 518-6569
Email: [email protected]

RIN: 3133-AC55

[[Page 26593]]

_______________________________________________________________________


NATIONAL CREDIT UNION ADMINISTRATION (NCUA)           Completed Actions


  



_______________________________________________________________________




4374. FEDERAL CREDIT UNION CHARTERING, FIELD OF MEMBERSHIP MODIFICATIONS 
AND CONVERSIONS

Priority: Substantive, Nonsignificant

Legal Authority: 12 USC 1752(5); 12 USC 1755 to 1757; 12 USC 1759; 12 
USC 1761b-c; 12 USC 1766 to 1767; ...

CFR Citation: 12 CFR 701.1

Legal Deadline: None

Abstract: The regulation sets forth all the requirements for chartering 
and field of membership. The rule requires community Federal credit 
unions to have a plan that sets forth the credit unions' efforts to 
serve low-income members. The final amendments also clarify existing 
policy and broaden chartering policies.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            06/06/00                    65 FR 37065
Final Rule                      10/27/00                    65 FR 64512

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

Government Levels Affected: None

Agency Contact: Michael J. McKenna, Senior Staff Attorney, Office of 
General Counsel, National Credit Union Administration, 1775 Duke 
Street, Alexandria, VA 22314-3428
Phone: 703 518-6562
Email: [email protected]

RIN: 3133-AC27
_______________________________________________________________________




4375. EXEMPTIONS (PRIVACY ACT)

Priority: Substantive, Nonsignificant

Legal Authority: 12 USC 1757

CFR Citation: 12 CFR 792.66

Legal Deadline: None

Abstract: Revised Privacy Act regulation to update offices and 
responsibilities and to reflect changes in the law.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

Final Rule                      10/25/00                    65 FR 63789

Regulatory Flexibility Analysis Required: No

Government Levels Affected: None

Agency Contact: Dianne M. Salva, Staff Attorney, Office of General 
Counsel, National Credit Union Administration, 1775 Duke Street, 
Alexandria, VA 22314-3428
Phone: 703 518-6540
Email: [email protected]

RIN: 3133-AC42
_______________________________________________________________________




4376.  GUIDELINES FOR SAFEGUARDING MEMBER INFORMATION

Priority: Substantive, Nonsignificant

Legal Authority: 12 USC 1766(a); 12 USC 1786(q); 15 USC 6801 and 
6805(b); 31 USC 5311

CFR Citation: 12 CFR 748

Legal Deadline: None

Abstract: The NCUA Board modified its security program requirements to 
include security of member information. Further the NCUA Board issued 
``Guidelines for Safeguarding Member Information'' to implement certain 
provisions of the Gramm-Leach Bliley Act of 1999.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            06/14/00                    65 FR 27302
NPRM Comment Period End         08/14/00
Final Action                    01/30/01                     66 FR 8152
Final Action Effective          07/01/01

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

Government Levels Affected: None

Agency Contact: Regina M. Metz, Staff Attorney, Office of General 
Counsel, National Credit Union Administration, 1775 Duke Street, 
Alexandria, VA 22314
Phone: 703 518-6540
Email: [email protected]

RIN: 3133-AC50
[FR Doc. 01-5209 Filed 05-11-01; 8:45 am]
BILLING CODE 7535-01-S
