[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]


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Part LVII





National Credit Union Administration





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Semiannual Regulatory Agenda

[[Page 38612]]



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 April 30, 2004, to be 
included in the Unified Agenda of Federal Regulatory and Deregulatory 
Actions.

DATES: This information is current as of April 30, 2004.

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 to 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 regulations impose 
only the minimum required burdens on credit unions, consumers, and 
the public; are appropriate for the size of the financial 
institution it regulates; are issued only after full public 
participation; and are clear and understandable. Further, NCUA 
undertakes to review all regulations every 3 years to clarify and 
simplify existing regulations and eliminate redundant and 
unnecessary provisions.

Approved by the NCUA Board on May 18, 2004.

 Becky Baker,

Secretary of the Board.

                               National Credit Union Administration--Prerule Stage
----------------------------------------------------------------------------------------------------------------
                                                                                                     Regulation
 Sequence                                           Title                                            Identifier
  Number                                                                                               Number
----------------------------------------------------------------------------------------------------------------
4147        Consumer Protection for Federally Insured Credit Unions' Sale of Nondeposit               3133-AC56
            Investments...........................................................................
4148        Regulatory Publication and Review.....................................................    3133-AC78
----------------------------------------------------------------------------------------------------------------


                            National Credit Union Administration--Proposed Rule Stage
----------------------------------------------------------------------------------------------------------------
                                                                                                     Regulation
 Sequence                                           Title                                            Identifier
  Number                                                                                               Number
----------------------------------------------------------------------------------------------------------------
4149        Nondiscrimination in Federally Assisted Programs......................................    3133-AC59
4150        Mergers of Federally Insured Credit Unions; Voluntary Termination or Conversion of        3133-AC82
            Insured Status........................................................................
4151        Privacy of Consumer Financial Information.............................................    3133-AC84
4152        Fair and Accurate Credit Transactions Act (FACTA) Red Flag Guidelines and Rule........    3133-AC90
4153        Fair and Accurate Credit Transactions Act (FACTA) Address Reconciliation Rule.........    3133-AC91
4154        Fair and Accurate Credit Transactions Act Furnisher Rule: Accuracy Guidelines and         3133-AC92
            Rules.................................................................................
4155        Fair and Accurate Credit Transactions Act Direct Disputes With Furnishers Rule........    3133-AC93
4156        Federal Credit Union Bylaws...........................................................    3133-AC94
4157        Change in Official or Senior Executive Officer in Credit Unions That Are Newly            3133-AC95
            Chartered or in Troubled Condition....................................................
4158        Conversion of Insured Credit Unions to Mutual Savings Banks...........................    3133-AC96
4159        Member Business Loans.................................................................    3133-AC97
4160        Designation of Low-Income Status, Receipt of Secondary Capital Accounts by Low-Income     3133-AC98
            Designated Credit Unions and Community Development Revolving Loan Program for Credit
            Unions................................................................................
4161        Fair Credit Reporting--Disposal of Consumer Information...............................    3133-AC99
4162        Fair Credit Reporting--Affiliate Use of Information for Marketing Solicitations.......    3133-AD00
4163        Fair Credit Reporting--Negative Information Notice....................................    3133-AD01
4164        Health Savings Accounts...............................................................    3133-AD03
----------------------------------------------------------------------------------------------------------------


                             National Credit Union Administration--Final Rule Stage
----------------------------------------------------------------------------------------------------------------
                                                                                                     Regulation
 Sequence                                           Title                                            Identifier
  Number                                                                                               Number
----------------------------------------------------------------------------------------------------------------
4165        Truth in Savings......................................................................    3133-AC57
4166        Requests for Information Under the Freedom of Information Act and Privacy Act and by      3133-AC79
            Subpoena, Subpart E...................................................................

[[Page 38613]]

 
4167        Guidance on Response Program for Unauthorized Access to Member Information and Member     3133-AC83
            Notice................................................................................
4168        Exchangeable Collateralized Mortgage Obligations......................................    3133-AC87
4169        Fair Credit Reporting Medical Information Regulation..................................    3133-AC88
4170        Community Development Revolving Loan Program For Credit Unions........................    3133-AC89
4171        Share Insurance; Living Trust Accounts................................................    3133-AD02
----------------------------------------------------------------------------------------------------------------


                             National Credit Union Administration--Completed Actions
----------------------------------------------------------------------------------------------------------------
                                                                                                     Regulation
 Sequence                                           Title                                            Identifier
  Number                                                                                               Number
----------------------------------------------------------------------------------------------------------------
4172        Credit Practices......................................................................    3133-AC34
4173        OMB Control Numbers...................................................................    3133-AC52
4174        Share Insurance and Appendix..........................................................    3133-AC65
4175        Maximum Borrowing Authority; Suretyship and Guaranty..................................    3133-AC73
4176        Description of NCUA; Request for Agency Action........................................    3133-AC77
4177        Loan Participation....................................................................    3133-AC85
4178        Conversion of Insured Credit Unions to Mutual Savings Banks...........................    3133-AC86
----------------------------------------------------------------------------------------------------------------

_______________________________________________________________________


National Credit Union Administration (NCUA)               Prerule Stage






_______________________________________________________________________




4147. CONSUMER PROTECTION FOR FEDERALLY INSURED CREDIT UNIONS' SALE OF 
NONDEPOSIT INVESTMENTS

Priority: Substantive, Nonsignificant

Legal Authority: Not Yet Determined

CFR Citation: Not Yet Determined

Legal Deadline: None

Abstract: NCUA is considering proposing regulations to ensure that the 
sale to members of all nondeposit investments through various types of 
arrangements is done in a safe and sound manner.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

ANPRM                           12/00/04

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-AC56
_______________________________________________________________________




4148. REGULATORY PUBLICATION AND REVIEW

Priority: Substantive, Nonsignificant

Legal Authority: 12 USC 3311

CFR Citation: Not Yet Determined

Legal Deadline: Final, Statutory, September 6, 2006, Publication for 
review completed.

Abstract: The financial institution regulators are required by section 
2222 of the Economic Growth and Regulatory Paperwork Reduction Act of 
1996 to categorize all of the agencies' regulations by type and then 
issue a notice and request for comment for each of the categories. The 
notice must request comment on areas of the regulations that are 
outdated, unnecessary, or unduly burdensome. This must be done on a 10-
year cycle. The first cycle ends in September 2006. The notice for the 
first category wasissued on July 3, 2003. The notice for the second 
category was issued on February 4, 2004.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

Notice                          07/03/03                    68 FR 39803
Notice                          02/04/04                     69 FR 5300
Notice                          07/00/04

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

Government Levels Affected: None

Agency Contact: Ross P. Kendall, Staff Attorney, National Credit Union 
Administration, 1775 Duke Street, Alexandria, VA 22314
Phone: 703 518-6540
Fax: 703 518-6569
Email: [email protected]

RIN: 3133-AC78

[[Page 38614]]

_______________________________________________________________________


National Credit Union Administration (NCUA)         Proposed Rule Stage






_______________________________________________________________________




4149. NONDISCRIMINATION IN FEDERALLY ASSISTED PROGRAMS

Priority: Substantive, Nonsignificant

Legal Authority: 42 USC 2000d et seq; 29 USC 793; 42 USC 6101 et seq

CFR Citation: 12 CFR 730

Legal Deadline: None

Abstract: The purpose of this rule is to implement Federal statutes 
that prohibit credit unions that receive Federal financial assistance 
from discrimination on certain bases.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            12/00/04

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

Government Levels Affected: None

Agency Contact: Paul Marshall Peterson, Staff Attorney, National Credit 
Union Administration, 1775 Duke Street, Alexandria, VA 22314
Phone: 703 518-6540
Fax: 703 518-6569
Email: [email protected]

RIN: 3133-AC59
_______________________________________________________________________




4150. MERGERS OF FEDERALLY INSURED CREDIT UNIONS; VOLUNTARY TERMINATION 
OR CONVERSION OF INSURED STATUS

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

Legal Authority: 12 USC 1766; 12 USC 1785; 12 USC 1786; 12 USC 1789

CFR Citation: 12 CFR 708b

Legal Deadline: None

Abstract: Update various regulatory requirements for mergers and 
conversions to nonfederal share insurance.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            07/00/04

Regulatory Flexibility Analysis Required: Undetermined

Government Levels Affected: None

Agency Contact: Paul Marshall Peterson, Staff Attorney, National Credit 
Union Administration, 1775 Duke Street, Alexandria, VA 22314
Phone: 703 518-6540
Fax: 703 518-6569
Email: [email protected]

RIN: 3133-AC82
_______________________________________________________________________




4151. PRIVACY OF CONSUMER FINANCIAL INFORMATION

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

Unfunded Mandates: Undetermined

Legal Authority: 15 USC 6801 et seq

CFR Citation: 12 CFR 716

Legal Deadline: None

Abstract: NCUA issued an interagency ANPRM and may issue a proposed 
rule, and a final rule on privacy notices and ways financial 
institutions can make them clear and conspicuous.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

ANPRM                           12/30/03                    68 FR 75164
ANPRM Comment Period End        03/29/04
NPRM                            03/00/05

Regulatory Flexibility Analysis Required: Undetermined

Government Levels Affected: Undetermined

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
Fax: 703 518-6569
Email: [email protected]

RIN: 3133-AC84
_______________________________________________________________________




4152.  FAIR AND ACCURATE CREDIT TRANSACTIONS ACT 
(FACTA) RED FLAG GUIDELINES AND RULE

Priority: Substantive, Nonsignificant

Legal Authority: 15 USC 1681m and 1681s

CFR Citation: 12 CFR 717

Legal Deadline: None

Abstract: The Fair and Accurate Credit Transactions Act of 2003 directs 
NCUA and the federal banking agencies jointly to establish and maintain 
red flag guidelines for use in identifying the possible existence of 
identity theft. In addition, the agencies must prescribe regulations to 
require the institutions they supervise to establish and follow 
reasonable policies and procedures to implement the guidelines. The 
policies and procedures must not be inconsistent with section 326 of 
the USA PATRIOT Act.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            09/00/04

Regulatory Flexibility Analysis Required: Undetermined

Government Levels Affected: 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
Fax: 703 518-6569
Email: [email protected]

RIN: 3133-AC90
_______________________________________________________________________




4153.  FAIR AND ACCURATE CREDIT TRANSACTIONS ACT 
(FACTA) ADDRESS RECONCILIATION RULE

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

Legal Authority: 15 USC 1681c

CFR Citation: 12 CFR 717

Legal Deadline: None

Abstract: The Fair and Accurate Credit Transactions Act of 2003 directs 
NCUA and the federal banking agencies to prescribe regulations for 
credit card and debit card issuers to require the investigation of 
changes of addresses. The law contains requirements for card issuers to 
follow reasonable policies and procedures and to notify cardholders or 
use other means of evaluating address changes in certain circumstances.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            09/00/04

Regulatory Flexibility Analysis Required: Undetermined

Government Levels Affected: 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
Fax: 703 518-6569

[[Page 38615]]

Email: [email protected]

RIN: 3133-AC91
_______________________________________________________________________




4154.  FAIR AND ACCURATE CREDIT TRANSACTIONS ACT 
FURNISHER RULE: ACCURACY GUIDELINES AND RULES

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

Legal Authority: 15 USC 1681s

CFR Citation: 12 CFR 717

Legal Deadline: None

Abstract: The Fair and Accurate Credit Transactions Act of 2003 directs 
the NCUA, the federal banking agencies, and the FTC in coordination to 
establish guidelines for furnishers to enhance the accuracy and 
integrity of information they furnish to consumer reporting agencies. 
The agencies also must prescribe regulations to establish reasonable 
policies and procedures to implement the guidelines.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            12/00/04

Regulatory Flexibility Analysis Required: Undetermined

Government Levels Affected: 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
Fax: 703 518-6569
Email: [email protected]

RIN: 3133-AC92
_______________________________________________________________________




4155.  FAIR AND ACCURATE CREDIT TRANSACTIONS ACT 
DIRECT DISPUTES WITH FURNISHERS RULE

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

Legal Authority: 15 USC 1681s

CFR Citation: None

Legal Deadline: None

Abstract: The Fair and Accurate Credit Transactions Act of 2003 directs 
the NCUA, the Federal banking agencies, and FTC jointly to identify 
circumstances under which furnishers must reinvestigate a dispute 
concerning the accuracy of a consumer report when a consumer's request 
is submitted directly to the furnisher, rather than through a consumer 
reporting agency.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            12/00/04

Regulatory Flexibility Analysis Required: Undetermined

Government Levels Affected: 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
Fax: 703 518-6569
Email: [email protected]

RIN: 3133-AC93
_______________________________________________________________________




4156.  FEDERAL CREDIT UNION BYLAWS

Priority: Substantive, Nonsignificant

Legal Authority: Not Yet Determined

CFR Citation: None

Legal Deadline: None

Abstract: The bylaws were completely revised in October 1999. Although 
we are not aware of any major revisions, several minor suggested 
changes have been brought to our attention. We plan to allow comment on 
the bylaws in their entirety in 2004 since it has been 4 years since 
the last revision.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            09/00/04

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-AC94
_______________________________________________________________________




4157.  CHANGE IN OFFICIAL OR SENIOR EXECUTIVE OFFICER 
IN CREDIT UNIONS THAT ARE NEWLY CHARTERED OR IN TROUBLED CONDITION

Priority: Substantive, Nonsignificant

Legal Authority: 12 USC 1790a

CFR Citation: 12 CFR 701.14

Legal Deadline: None

Abstract: NCUA is proposing to revise its rule concerning the 
requirement that federally-insured credit unions that are newly-
chartered or troubled, file notice with NCUA prior to adding or 
replacing a board, or committee member, or employing or changing the 
duties of a senior executive officer. The proposed amendments will 
clarify the relationship between the prior notice provision and the 
commencement of service provision, so as to eliminate any potential 
confusion. In addition, the amendments reorganize the requirements in 
the current rule to make it easier to understand.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            06/00/04

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-AC95
_______________________________________________________________________




4158.  CONVERSION OF INSURED CREDIT UNIONS TO MUTUAL 
SAVINGS BANKS

Priority: Substantive, Nonsignificant

Legal Authority: 12 USC 1766; 12 USC 1785(b)

CFR Citation: 12 CFR 708a

Legal Deadline: None

Abstract: Amends NCUA rule regarding conversion of insured credit 
unions to mutual savings banks to clarify and enhance member protection 
in the event of conversion.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            07/00/04

[[Page 38616]]

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-AC96
_______________________________________________________________________




4159.  MEMBER BUSINESS LOANS

Priority: Substantive, Nonsignificant

Legal Authority: 12 USC 1757, 1757A, 1766, 1785, 1789

CFR Citation: 12 CFR 723

Legal Deadline: None

Abstract: Amends the members business loans rule to provide additional 
flexibility for federally-insured credit unions to participate in 
government loan programs.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            06/00/04

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-AC97
_______________________________________________________________________




4160.  DESIGNATION OF LOW-INCOME STATUS, RECEIPT OF 
SECONDARY CAPITAL ACCOUNTS BY LOW-INCOME DESIGNATED CREDIT UNIONS AND 
COMMUNITY DEVELOPMENT REVOLVING LOAN PROGRAM FOR CREDIT UNIONS

Priority: Substantive, Nonsignificant

Legal Authority: 12 USC 1752(s), 1755-1757, 1759, 1761a, 1761b, 1766-
1767; 42 USC 9822 and 9822 note

CFR Citation: 12 CFR 701.34; 12 CFR 705

Legal Deadline: None

Abstract: Amend NCUA rules to enable credit unions to more simply 
document their low-income membership, and streamline the application 
process for the Community Development Revolving Loan Program for Credit 
Unions.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            10/00/04

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-AC98
_______________________________________________________________________




4161.  FAIR CREDIT REPORTING--DISPOSAL OF CONSUMER 
INFORMATION

Priority: Substantive, Nonsignificant

Legal Authority: 15 USC 1681s; 15 USC 1681w

CFR Citation: 12 CFR 717.83; 12 CFR 748.0

Legal Deadline: Final, Statutory, December 4, 2004, NCUA required to 
adopt final rule by December 4, 2004 under 15 USC 1681w(a)(1).

Abstract: NCUA intends to issue a proposed rule to implement section 
216 of the Fair and Accurate Credit Transactions Act of 2003. The 
proposed rule would require a federal credit union to develop, 
implement, and maintain appropriate measures to properly dispose of 
consumer information derived from consumer reports, as part of its 
information security program.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            05/28/04                    69 FR 30601
NPRM Comment Period End         07/12/04

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-AC99
_______________________________________________________________________




4162.  FAIR CREDIT REPORTING--AFFILIATE USE OF 
INFORMATION FOR MARKETING SOLICITATIONS

Priority: Substantive, Nonsignificant

Legal Authority: 15 USC 1681s; 15 USC 1681s-3

CFR Citation: 12 CFR 717

Legal Deadline: Final, Statutory, September 4, 2004, NCUA must issue a 
final rule within 9 months from the date the Fair Accurate Credit 
Transactions Act was enacted.

Abstract: NCUA intends to issue a proposed rule to implement section 
214 of the Fair and Accurate Credit Transactions Act of 2003. The 
proposed rule will provide for consumer notice and an opportunity to 
prohibit federal credit union affiliates from using certain information 
to make or send marketing solicitations to consumers.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            06/00/04

Regulatory Flexibility Analysis Required: Undetermined

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-AD00
_______________________________________________________________________




4163.  FAIR CREDIT REPORTING--NEGATIVE INFORMATION 
NOTICE

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

Legal Authority: 15 USC 1681s(e)(2)

CFR Citation: 12 CFR 717

Legal Deadline: None

Abstract: NCUA intends to issue a proposed rule to implement Section 
217 of the Fair and Accurate Credit

[[Page 38617]]

Transactions Act of 2003, which requires a federal credit union to 
provide notice to members no later than 30 days after it furnishes 
negative information to a nationwide consumer reporting agency about 
credit extended to a member.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            10/00/04

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-AD01
_______________________________________________________________________




4164.  HEALTH SAVINGS ACCOUNTS

Priority: Substantive, Nonsignificant

Legal Authority: 12 USC 1757, 1757(17), 1765, 1766, 1787, 1789

CFR Citation: 12 CFR 721; 12 CFR 724

Legal Deadline: None

Abstract: NCUA proposes to amend its rules to authorize federal credit 
unions to serve as trustee or custodian for Health Savings Accounts 
established by members.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            05/26/04                    69 FR 29907
NPRM Comment Period End         06/26/04
Final Action                    07/00/04

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

Government Levels Affected: None

Agency Contact: Ross P. Kendall, Staff Attorney, National Credit Union 
Administration, 1775 Duke Street, Alexandria, VA 22314
Phone: 703 518-6540
Fax: 703 518-6569
Email: [email protected]

RIN: 3133-AD03
_______________________________________________________________________


National Credit Union Administration (NCUA)            Final Rule Stage






_______________________________________________________________________




4165. TRUTH IN SAVINGS

Priority: Substantive, Nonsignificant

Legal Authority: 12 USC 4311

CFR Citation: 12 CFR 707

Legal Deadline: Other, Statutory, November 6, 2001, Interim Final Rule.
Mandated by Truth in Savings Act.

Abstract: NCUA amended its Truth in Savings rule in compliance with the 
Truth in Savings Act, which requires NCUA to amend its rule in 
conformity with changes made by the Federal Reserve Board to its 
Regulation DD.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

Interim Final Rule              09/19/01                    66 FR 48206
Final Action                    12/00/04

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-AC57
_______________________________________________________________________




4166. REQUESTS FOR INFORMATION UNDER THE FREEDOM OF INFORMATION ACT AND 
PRIVACY ACT AND BY SUBPOENA, SUBPART E

Priority: Info./Admin./Other

Legal Authority: 5 USC 552a

CFR Citation: None

Legal Deadline: None

Abstract: Addition of new Privacy Act systems of records to ensure 
building security and to monitor employees' daily attendance, and 
amendment of existing system of records to reflect maintenance of 
records of individual employee's entries and exits from a parking 
garage.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

Final Action                    12/00/04

Regulatory Flexibility Analysis Required: No

Small Entities Affected: 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
Fax: 703 518-6569
Email: [email protected]

RIN: 3133-AC79
_______________________________________________________________________




4167. GUIDANCE ON RESPONSE PROGRAM FOR UNAUTHORIZED ACCESS TO MEMBER 
INFORMATION AND MEMBER NOTICE

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

Legal Authority: 15 USC 6801; 15 USC 6805(b); 12 USC 1751 et seq

CFR Citation: 12 CFR 748.01(b); 12 CFR 748 app B

Legal Deadline: None

Abstract: NCUA issued a proposed rule regarding section 501(b) of the 
Gramm-Leach-Bliley Act, consistent and comparable with the other 
banking agencies' proposed rule on Interagency Guidance on Response 
Programs for Unauthorized Access to Customer Information and Customer 
Notice.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            10/30/03                    68 FR 61760
NPRM Comment Period End         12/29/03
Final Action                    12/00/04

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

Government Levels Affected: None

Agency Contact: Ross P. Kendall, Staff Attorney, National Credit Union 
Administration, 1775 Duke Street, Alexandria, VA 22314

[[Page 38618]]

Phone: 703 518-6540
Fax: 703 518-6569
Email: [email protected]

RIN: 3133-AC83
_______________________________________________________________________




4168. EXCHANGEABLE COLLATERALIZED MORTGAGE OBLIGATIONS

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

Legal Authority: 12 USC 1757(15)

CFR Citation: 12 CFR 703

Legal Deadline: None

Abstract: A proposed amendment to part 703 to enumerate the conditions 
under which a Federal credit union may invest in an Exchangeable 
Collateralized Mortgage Obligation.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            02/02/04                     69 FR 4886
NPRM Comment Period End         04/02/04
Final Action                    06/00/04

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

Government Levels Affected: None

Agency Contact: Paul Marshall Peterson, Staff Attorney, National Credit 
Union Administration, 1775 Duke Street, Alexandria, VA 22314
Phone: 703 518-6540
Fax: 703 518-6569
Email: [email protected]

RIN: 3133-AC87
_______________________________________________________________________




4169.  FAIR CREDIT REPORTING MEDICAL INFORMATION 
REGULATION

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

Legal Authority: 15 USC 1681b; 15 USC 1681s

CFR Citation: 12 CFR 717

Legal Deadline: Final, Statutory, June 4, 2004.

Abstract: The Fair and Accurate Credit Transactions Act of 2003 directs 
NCUA and the Federal banking agencies to prescribe regulations creating 
exceptions to the law's prohibition against the institutions they 
supervise obtaining or using consumers' medical information in 
connection with a determination of the consumer's eligibility for 
credit. The exceptions must be necessary and appropriate to protect 
legitimate operational, transactional, risk, consumer, and other needs, 
including permitting actions necessary for administrative verification 
purposes, consistent with the law's intent to restrict the use of 
medical information for inappropriate purposes. The regulations will 
also address how institutions can share medical information with their 
affiliates (for Federal credit unions these are credit union service 
organizations).

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            04/28/04                    69 FR 23380
Final Action                    06/00/04

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

Government Levels Affected: 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
Fax: 703 518-6569
Email: [email protected]

RIN: 3133-AC88
_______________________________________________________________________




4170.  COMMUNITY DEVELOPMENT REVOLVING LOAN PROGRAM 
FOR CREDIT UNIONS

Priority: Substantive, Nonsignificant

Legal Authority: 12 USC 1772c-l; 42 USC 9822 and 9822 Note

CFR Citation: 12 CFR 705

Legal Deadline: None

Abstract: Amends the Community Development Revolving Loan Program For 
Credit Unions rule to permit student credit unions to participate in 
the program.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            04/15/04                    69 FR 21443
NPRM Comment Period End         05/21/04
Final Action                    07/00/04

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-AC89
_______________________________________________________________________




4171.  SHARE INSURANCE; LIVING TRUST ACCOUNTS

Priority: Substantive, Nonsignificant

Legal Authority: 12 USC 1752(5), 1757, 1765, 1766, 1781, 1782, 1787, 
1789

CFR Citation: 12 CFR 745

Legal Deadline: None

Abstract: This rule amends Part 745 by eliminating language that 
precludes insurance coverage for interests of beneficiaries of living 
trust accounts where the interest is subject to a defeating 
contingency.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

Interim Final Rule              02/26/04                     69 FR 8798
Interim Final Rule Effective    04/01/04
Final Action                    07/00/04

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

Government Levels Affected: None

Agency Contact: Ross P. Kendall, Staff Attorney, National Credit Union 
Administration, 1775 Duke Street, Alexandria, VA 22314
Phone: 703 518-6540
Fax: 703 518-6569
Email: [email protected]

RIN: 3133-AD02

[[Page 38619]]

_______________________________________________________________________


National Credit Union Administration (NCUA)           Completed Actions






_______________________________________________________________________




4172. CREDIT PRACTICES

Priority: Substantive, Nonsignificant

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

CFR Citation: 12 CFR 706

Legal Deadline: None

Abstract: NCUA issued a proposed regulation under the Fair Credit 
Reporting Act to address the sharing of opt-out information between 
Federal credit unons and their affiliates. NCUA withdraws this 
rulemaking effort until it is prepared to issue a second proposal for 
comment.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            10/26/00                    65 FR 64168
NPRM Comment Period End         12/26/00
Withdrawn                       04/30/04

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
_______________________________________________________________________




4173. OMB CONTROL NUMBERS

Priority: Info./Admin./Other

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

CFR Citation: 12 CFR 795

Legal Deadline: None

Abstract: NCUA updated 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                    03/16/04                    69 FR 12265

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
Fax: 703 518-6569
Email: [email protected]

RIN: 3133-AC52
_______________________________________________________________________




4174. SHARE INSURANCE AND APPENDIX

Priority: Substantive, Nonsignificant

Legal Authority: 12 USC 1752(5); 12 USC 1757; 12 USC 1765 to 1766; 12 
USC 1781 to 1782; 12 USC 1787; . . .

CFR Citation: 12 CFR 745

Legal Deadline: None

Abstract: Updated NCUA's share insurance rules to bring them into 
closer parity with the Federal Deposit Insurance Corporation's deposit 
insurance rules.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            07/03/03                    68 FR 39868
NPRM Comment Period End         09/02/03
Final Action                    12/30/03                    68 FR 75111
Final Action Effective          01/29/04

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-AC65
_______________________________________________________________________




4175. MAXIMUM BORROWING AUTHORITY; SURETYSHIP AND GUARANTY

Priority: Substantive, Nonsignificant

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

CFR Citation: 12 CFR 741.2; 12 CFR 701.20

Legal Deadline: None

Abstract: This provision limits borrowing for federally insured credit 
unions to 50 percent of paid-in and unimpaired capital and surplus. The 
limitation is statutory for Federal credit unions (FCUs). NCUA amended 
the regulation to permit federally insured, State-chartered credit 
unions (FISCUs) to apply for a waiver from the borrowing limitations. 
NCUA also added a new provision to its regulations that allows FCUs to 
act as surety or guarantor on behalf of their members. The file rule 
establishes certain requirements to ensure that FCUs and FISCUs, if 
permitted under State law to act as a surety or guarantor, are not 
exposed to undue risk.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            10/01/03                    68 FR 56586
NPRM Comment Period End         12/01/03
Final Action                    02/25/04                     69 FR 8545

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-AC73
_______________________________________________________________________




4176. DESCRIPTION OF NCUA; REQUEST FOR AGENCY ACTION

Priority: Info./Admin./Other

Legal Authority: 12 USC 1752(5), 1755-1757, 1759, 1761a, 1761(b), 1766-
1767, 1782, 1784, 1787, 1789, 1795F

CFR Citation: 12 CFR 701; 12 CFR 790

Legal Deadline: None

Abstract: NCUA issued a revised and updated description of NCUA.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

Final Action                    02/27/04                     69 FR 9199

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
Fax: 703 518-6569

[[Page 38620]]

Email: [email protected]

RIN: 3133-AC77
_______________________________________________________________________




4177. LOAN PARTICIPATION

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

Legal Authority: 12 USC 1752(5); 12 USC 1755 to 1757; 15 USC 1601 et 
seq; 42 USC 1981; 42 USC 3601 to 3610; 42 USC 4311 to 4312

CFR Citation: 12 CFR 701.22

Legal Deadline: None

Abstract: NCUA updated and clarified the definition of certain terms 
used in NCUA's loan participation rule to conform to other NCUA rules, 
and to provide greater flexibility to Federal credit unions in choosing 
appropriate loan participation partners.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            06/26/03                    68 FR 39866
NPRM Comment Period End         09/02/03
Final Action                    12/30/03                    68 FR 75110
Final Action Effective          01/29/04

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-AC85
_______________________________________________________________________




4178. CONVERSION OF INSURED CREDIT UNIONS TO MUTUAL SAVINGS BANKS

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

Legal Authority: 12 USC 1766; 12 USC 1785(b)

CFR Citation: 12 CFR 708a

Legal Deadline: None

Abstract: The NCUA requires a credit union converting to a mutual 
savings bank to disclose additional information in its notice to 
members of its intent to convert.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            10/01/03                    68 FR 56589
NPRM Comment Period End         12/01/03
Final Action                    02/25/04                     69 FR 8548
Final Action Effective          03/26/04

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-AC86
[FR Doc. 04-11858 Filed 06-25-04; 8:45 am]
BILLING CODE 7535-01-S