[The Regulatory Plan and 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 65650]]



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 July 31, 2005, to be 
included in the Unified Agenda of Federal Regulatory and Deregulatory 
Actions.

DATES: This information is current as of July 31, 2005.

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 August 29, 2005.

 Mary Rupp,

Secretary of the Board.

                               National Credit Union Administration--Prerule Stage
----------------------------------------------------------------------------------------------------------------
                                                                                                     Regulation
 Sequence                                           Title                                            Identifier
  Number                                                                                               Number
----------------------------------------------------------------------------------------------------------------
4068        Fair Credit Reporting--Negative Information Notice....................................    3133-AD01
----------------------------------------------------------------------------------------------------------------


                            National Credit Union Administration--Proposed Rule Stage
----------------------------------------------------------------------------------------------------------------
                                                                                                     Regulation
 Sequence                                           Title                                            Identifier
  Number                                                                                               Number
----------------------------------------------------------------------------------------------------------------
4069        Nondiscrimination in Federally Assisted Programs......................................    3133-AC59
4070        Privacy of Consumer Financial Information.............................................    3133-AC84
4071        Fair and Accurate Credit Transactions Act (FACTA) Red Flag Guidelines and Rule........    3133-AC90
4072        Fair and Accurate Credit Transactions Act (FACTA) Address Reconciliation Rule.........    3133-AC91
4073        Fair and Accurate Credit Transactions Act Furnisher Rule: Accuracy Guidelines and         3133-AC92
            Rules.................................................................................
4074        Fair and Accurate Credit Transactions Act Direct Disputes With Furnishers Rule........    3133-AC93
4075        Federal Credit Union Bylaws...........................................................    3133-AC94
4076        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................................................................................
4077        Supervisory Committee Audits and Verifications........................................    3133-AD05
4078        Truth In Savings......................................................................    3133-AD11
4079        Incidental Powers.....................................................................    3133-AD12
----------------------------------------------------------------------------------------------------------------


                             National Credit Union Administration--Final Rule Stage
----------------------------------------------------------------------------------------------------------------
                                                                                                     Regulation
 Sequence                                           Title                                            Identifier
  Number                                                                                               Number
----------------------------------------------------------------------------------------------------------------
4080        Truth in Savings......................................................................    3133-AC57
4081        Regulatory Publication and Review.....................................................    3133-AC78
4082        Requests for Information Under the Freedom of Information Act and Privacy Act and by      3133-AC79
            Subpoena, Subpart E...................................................................
4083        Fair Credit Reporting Medical Information Regulation..................................    3133-AC88
4084        Fair Credit Reporting--Affiliate Use of Information for Marketing Solicitations.......    3133-AD00
4085        Member Business Loans.................................................................    3133-AD06
4086        Regulatory Flexibility Program; Corporate Credit Union Capital........................    3133-AD09
4087        Fidelity Bond and Insurance Coverage for Federal Credit Unions........................    3133-AD10

[[Page 65651]]

 
4088        Post-Employment Restrictions for Certain NCUA Examiners...............................    3133-AD13
4089        Requirements for Insurance............................................................    3133-AD14
4090        Uninsured Secondary Capital Accounts..................................................    3133-AD17
----------------------------------------------------------------------------------------------------------------


                             National Credit Union Administration--Long-Term Actions
----------------------------------------------------------------------------------------------------------------
                                                                                                     Regulation
 Sequence                                           Title                                            Identifier
  Number                                                                                               Number
----------------------------------------------------------------------------------------------------------------
4091        Conversion of Insured Credit Unions to Mutual Savings Banks...........................    3133-AD16
----------------------------------------------------------------------------------------------------------------


                             National Credit Union Administration--Completed Actions
----------------------------------------------------------------------------------------------------------------
                                                                                                     Regulation
 Sequence                                           Title                                            Identifier
  Number                                                                                               Number
----------------------------------------------------------------------------------------------------------------
4092        Security Program and Appendix B -- Guidance on Response Program for Unauthorized          3133-AC83
            Access to Member Information and Member Notice........................................
4093        Credit Union Service Organizations....................................................    3133-AD07
4094        Technical Correction..................................................................    3133-AD15
----------------------------------------------------------------------------------------------------------------

_______________________________________________________________________


National Credit Union Administration (NCUA)               Prerule Stage


  



_______________________________________________________________________




4068. FAIR CREDIT REPORTING--NEGATIVE INFORMATION NOTICE

Priority: Substantive, Nonsignificant

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

CFR Citation: 12 CFR 717

Legal Deadline: None

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

________________________________________________________________________

ANPRM                           03/00/06

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
_______________________________________________________________________


National Credit Union Administration (NCUA)         Proposed Rule Stage


  



_______________________________________________________________________




4069. 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                            02/00/06

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

[[Page 65652]]

_______________________________________________________________________




4070. PRIVACY OF CONSUMER FINANCIAL INFORMATION

Priority: Substantive, Nonsignificant

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                            03/00/06

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
_______________________________________________________________________




4071. 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                            12/00/05

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
_______________________________________________________________________




4072. FAIR AND ACCURATE CREDIT TRANSACTIONS ACT (FACTA) ADDRESS 
RECONCILIATION RULE

Priority: Substantive, Nonsignificant

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                            12/00/05

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-AC91
_______________________________________________________________________




4073. FAIR AND ACCURATE CREDIT TRANSACTIONS ACT FURNISHER RULE: ACCURACY 
GUIDELINES AND RULES

Priority: Substantive, Nonsignificant

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                            12/00/05

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
_______________________________________________________________________




4074. FAIR AND ACCURATE CREDIT TRANSACTIONS ACT DIRECT DISPUTES WITH 
FURNISHERS RULE

Priority: Substantive, Nonsignificant

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 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                            12/00/05

[[Page 65653]]

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
_______________________________________________________________________




4075. FEDERAL CREDIT UNION BYLAWS

Priority: Substantive, Nonsignificant

Legal Authority: 12 USC 1758

CFR Citation: None

Legal Deadline: None

Abstract: NCUA issued a proposal to amend and update the Federal Credit 
Union bylaws as a result of comments received in response to its ANPRM. 
NCUA will issue a final document after reviewing comments responding to 
the proposed changes.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

ANPRM                           09/29/04                    69 FR 58203
ANPRM Comment Period End        11/29/04
NPRM                            07/15/05                    70 FR 40924
NPRM Comment Period End         10/13/05
Final Action                    03/00/06

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-AC94
_______________________________________________________________________




4076. 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 to 1757, 1759, 1761a, 1761b, 1766 
to 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 document their 
low-income membership more easily and simplify NCUA's ability to update 
geographic differentials to be used when applying the annual income 
standards when designating low-income credit unions and making 
community development revolving loans.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            12/00/05

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

Government Levels Affected: None

Agency Contact: Moisette I. Green, Staff Attorney, Office of General 
Counsel, National Credit Union Administration, 1775 Duke Street, 
Alexandria, VA 22314
Phone: 703 518-6553
Fax: 703 518-6319
Email: [email protected]

RIN: 3133-AC98
_______________________________________________________________________




4077. SUPERVISORY COMMITTEE AUDITS AND VERIFICATIONS

Priority: Substantive, Nonsignificant

Legal Authority: 12 USC 1761d; 12 USC 1782(a)(6)

CFR Citation: 12 CFR 715

Legal Deadline: None

Abstract: This rulemaking will address GAO's recommendation to require 
that credit unions conform to the requirement imposed by FDICIA that 
banks having more than $500 million in assets obtain both an annual 
financial statement audit and an examination of internal controls over 
financial reporting; select provisions of the Public Company Accounting 
Oversight Board's heightened auditing standards for public companies 
(e.g., auditor independence, ethics, etc.) to credit union financial 
audits; and other limitations to auditor liability for supervisory 
committee audits.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            12/00/05

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

Government Levels Affected: State

Agency Contact: Steven W. Widerman, Trial Attorney, Office of General 
Counsel, National Credit Union Administration, 1775 Duke Street, 
Alexandria, VA 22314
Phone: 703 518-6557
Fax: 703 837-2779
Email: [email protected]

RIN: 3133-AD05
_______________________________________________________________________




4078. [bull] TRUTH IN SAVINGS

Priority: Substantive, Nonsignificant

Legal Authority: 12 USC 4311

CFR Citation: 12 CFR 707

Legal Deadline: NPRM, Statutory, October 1, 2006.
Must promulgate rule within 90 days of Federal Reserve's rules 
effective date of 07/01/06.

Abstract: NCUA needs to amend 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 in Regulation 
DD regarding information provided to consumers when they overdraw their 
deposit accounts.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            11/00/05

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

[[Page 65654]]

Email: [email protected]

RIN: 3133-AD11
_______________________________________________________________________




4079. [bull] INCIDENTAL POWERS

Priority: Substantive, Nonsignificant

Legal Authority: 12 USC 1757(17); 12 USC 1766; 12 USC 1789

CFR Citation: 12 CFR 721

Legal Deadline: None

Abstract: NCUA is considering issuing a proposed rule to update its 
incidental powers rule to include any additional examples of activities 
NCUA deems to be within the incidental powers of a Federal credit 
union.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            01/00/06

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-AD12
_______________________________________________________________________


National Credit Union Administration (NCUA)            Final Rule Stage


  



_______________________________________________________________________




4080. 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 regarding electronic disclosures.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

Interim Final Rule              09/19/01                    66 FR 48206
Final Action                    12/00/05

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
_______________________________________________________________________




4081. REGULATORY PUBLICATION AND REVIEW

Priority: Substantive, Nonsignificant

Legal Authority: 12 USC 3311

CFR Citation: 12 CFR ch 7

Legal Deadline: Final, Statutory, September 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 two categories was issued on July 3, 2003. The notice for the 
second category was issued on February 4, 2004. Notice for the third 
category was published on July 8, 2004. Notice for the fourth and fifth 
categories was published on February 4, 2005. Notice for the sixth and 
seventh categories was published on July 7, 2005.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

Notice                          07/03/03                    68 FR 39803
Notice                          02/04/04                     69 FR 5300
Notice                          07/08/04                    69 FR 41202
Notice                          02/04/05                     70 FR 5946
Notice                          07/07/05                    70 FR 39202
Final Action                    09/00/06

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
_______________________________________________________________________




4082. 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: 12 CFR 792

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                    03/00/06

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
_______________________________________________________________________




4083. FAIR CREDIT REPORTING MEDICAL INFORMATION REGULATION

Priority: Substantive, Nonsignificant

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

[[Page 65655]]

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
NPRM Comment Period End         05/28/04
Interim Final Rule              06/10/05                    70 FR 33957
Final Action                    12/00/05

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
_______________________________________________________________________




4084. 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 required to 
issue a final rule within 9 months from the date the Fair Accurate 
Credit Transactions Act was enacted.

Abstract: NCUA issued a joint proposed rule to implement section 214 of 
the Fair and Accurate Credit Transactions Act of 2003, with the Federal 
banking agencies. The proposed rule provides for consumer notice and an 
opportunity to prohibit Federal credit union affiliates from using 
certain information to make or send marketing solicitations to 
consumers. NCUA intends to issue a final rule by the end of the year.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            07/15/04                    69 FR 42502
NPRM Comment Period End         08/16/04
Final Action                    12/00/05

Regulatory Flexibility Analysis Required: Yes

Small Entities Affected: Businesses

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
_______________________________________________________________________




4085. MEMBER BUSINESS LOANS

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

Legal Authority: 12 USC 1756 to 1757; 12 USC 1757A; 12 USC 1766; 12 USC 
1785; 12 USC 1789; . . .

CFR Citation: 12 CFR 723

Legal Deadline: None

Abstract: NCUA proposes amendments to the member business loans rule to 
clarify the minimum capital requirements for a corporate credit union 
to make unsecured business loans to entities other than credit unions 
and CUSOs, revise the definition of construction or development loan to 
include loans for renovating commercial property, and revise the net 
worth definition to parallel the definition in part 702 and the Act.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            04/20/05                    70 FR 20487
NPRM Comment Period End         06/20/05
Final Action                    10/00/05

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-AD06
_______________________________________________________________________




4086. REGULATORY FLEXIBILITY PROGRAM; CORPORATE CREDIT UNION CAPITAL

Priority: Substantive, Nonsignificant

Legal Authority: 12 USC 1756; 12 USC 1766

CFR Citation: 12 CFR 742; 12 CFR 704

Legal Deadline: None

Abstract: This rulemaking proposes to modify the minimum net worth and 
CAMEL criteria for eligibility for NCUA's Regulatory Flexibility 
Program. Federally insured credit unions that qualify for the program 
are exempt in whole or in part from a series of regulatory restrictions 
and also are allowed to purchase and hold an expanded range of eligible 
obligations.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            07/29/05                    70 FR 43796
NPRM Comment Period End         09/27/05
Final Action                    12/00/05

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

Government Levels Affected: None

Agency Contact: Steven W. Widerman, Trial Attorney, Office of General 
Counsel, National Credit Union Administration, 1775 Duke Street, 
Alexandria, VA 22314
Phone: 703 518-6557
Fax: 703 837-2779
Email: [email protected]

RIN: 3133-AD09

[[Page 65656]]

_______________________________________________________________________




4087. [bull] FIDELITY BOND AND INSURANCE COVERAGE FOR FEDERAL CREDIT 
UNIONS

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

Legal Authority: 12 USC 1761(b); 12 USC 1766(a); 12 USC 1766(h); 12 USC 
1789(a)(11); 12 USC 1761(a); . . .

CFR Citation: 12 CFR 713; 12 CFR 741

Legal Deadline: None

Abstract: This amendment would make several changes to NCUA's rule 
governing mandatory fidelity bond coverage for federal credit union 
officers, directors, and employees. The changes include increasing the 
maximum deductible and increasing the required coverage limits for both 
larger credit unions and smaller credit unions. The listing of approved 
bond forms and bond companies would be removed from the rule, and we 
solicit comment on whether to discontinue an outdated bond form. The 
proposed rule makes a technical correction to part 741.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            05/25/05                    70 FR 30017
NPRM Comment Period End         07/25/05
Final Action                    10/00/05

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-AD10
_______________________________________________________________________




4088. [bull] POST-EMPLOYMENT RESTRICTIONS FOR CERTAIN NCUA EXAMINERS

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

Legal Authority: 12 USC 1786(w)

CFR Citation: 12 CFR 796

Legal Deadline: Other, Statutory, December 17, 2005, Restrictions apply 
by statute on or after 12/17/05.

Abstract: The proposed rule prohibits senior NCUA examiners for one 
year after leaving NCUA employment from accepting employment with a 
credit union if they had continuing broad responsibility for its 
examination for two or more months in their last year of NCUA 
employment.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            07/29/05                    70 FR 43800
NPRM Comment Period End         09/27/05
Final Action                    11/00/05

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-AD13
_______________________________________________________________________




4089. [bull] REQUIREMENTS FOR INSURANCE

Priority: Substantive, Nonsignificant

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

CFR Citation: 12 CFR 741.8

Legal Deadline: None

Abstract: The rule amends the regulation on the purchase of assets and 
assumption of liabilities by federally insured credit unions to clarify 
which transfers of assets or accounts require approval by the NCUA 
Board. It also requests comments on provisions governing nonconforming 
investments and CUSO investments by federally insured, state-chartered 
credit unions.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            07/29/05                    70 FR 43794
NPRM Comment Period End         09/27/05
Final Action                    12/00/05

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

Government Levels Affected: State

Federalism:  This action may have federalism implications as defined in 
EO 13132.

Agency Contact: Moisette I. Green, Staff Attorney, Office of General 
Counsel, National Credit Union Administration, 1775 Duke Street, 
Alexandria, VA 22314
Phone: 703 518-6553
Fax: 703 518-6319
Email: [email protected]

RIN: 3133-AD14
_______________________________________________________________________




4090. [bull] UNINSURED SECONDARY CAPITAL ACCOUNTS

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

Legal Authority: 12 USC 1752(5); 12 USC 1755 to 1757; 12 USC 1759; 12 
USC 1761a to1761b; 12 USC 1766 to 1767; 12 USC 1782; 12 USC 1784; 12 
USC 1787; 12 USC 1781 to 1790; PL 101-73; 31 USC 3717; 12 USC 1601 et 
seq; 42 USC 1981; 42 USC 3601 to 3610; 12 USC 4311 to 4312; 12 USC 
1790d

CFR Citation: 12 CFR 701; 12 CFR 741

Legal Deadline: None

Abstract: This proposal will allow low-income-designated credit unions 
that offer secondary capital accounts to begin redeeming the funds in 
those accounts when they are within 5 years of maturity and to require 
prior approval of a plan for the use of secondary capital before such 
accounts can be offered.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            07/29/05                    70 FR 43789
NPRM Comment Period End         09/27/05
Final Action                    12/00/05

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

Government Levels Affected: None

Agency Contact: Steven W. Widerman, Trial Attorney, Office of General 
Counsel, National Credit Union Administration, 1775 Duke Street, 
Alexandria, VA 22314
Phone: 703 518-6557
Fax: 703 837-2779
Email: [email protected]

RIN: 3133-AD17

[[Page 65657]]

_______________________________________________________________________


National Credit Union Administration (NCUA)           Long-Term Actions


  



_______________________________________________________________________




4091. [bull] CONVERSION OF INSURED CREDIT UNIONS TO MUTUAL SAVINGS BANKS

Priority: Substantive, Nonsignificant

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

CFR Citation: None

Legal Deadline: None

Abstract: Amend part 708a of NCUA regulations regarding conversion of 
insured credit unions to mutual savings banks to provide enhanced 
protection for members and regulatory certainty for credit unions.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

Prerule                          To Be                       Determined

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-AD16
_______________________________________________________________________


National Credit Union Administration (NCUA)           Completed Actions


  



_______________________________________________________________________




4092. SECURITY PROGRAM AND APPENDIX B -- GUIDANCE ON RESPONSE PROGRAM 
FOR UNAUTHORIZED ACCESS TO MEMBER INFORMATION AND MEMBER NOTICE

Priority: Substantive, Nonsignificant

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

CFR Citation: 12 CFR 748.0 (b)(3); 12 CFR 748 app B

Legal Deadline: None

Abstract: NCUA issued a final rule regarding section 501(b) of the 
Gramm-Leach-Bliley Act, consistent and comparable with the other 
banking agencies' guidance on Response Programs for Unauthorized Access 
to Customer Information and Customer Notice. NCUA's rule change was 
accompanied by an appendix that provides guidance to credit unions on 
establishing response programs in cases involving breach or compromise 
of security regarding member accounts. The final rule became effective 
on June 1, 2005.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            10/30/03                    68 FR 61760
NPRM Comment Period End         12/29/03
Final Action                    05/02/05                    70 FR 22764
Final Action Effective          06/01/05

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-AC83
_______________________________________________________________________




4093. CREDIT UNION SERVICE ORGANIZATIONS

Priority: Substantive, Nonsignificant

Legal Authority: 12 USC 1751 et seq

CFR Citation: 12 CFR 712

Legal Deadline: None

Abstract: This amendment will liberalize NCUA's existing rule on credit 
union service organizations (CUSOs) by allowing credit unions that have 
wholly owned CUSOs to include the CUSO in a consolidated financial 
statement audit. This change is consistent with generally accepted 
accounting principles and will enable wholly owned CUSOs to avoid the 
effort and expense of obtaining a separate CPA opinion audit.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            03/23/05                    70 FR 14579
NPRM Comment Period End         05/23/05
Final Action                    09/21/05                    70 FR 55227

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-AD07
_______________________________________________________________________




4094. [bull] TECHNICAL CORRECTION

Priority: Info./Admin./Other

Legal Authority: IRPS 87-2

CFR Citation: 12 CFR 790

Legal Deadline: None

Abstract: The rule corrects titles of NCUA offices and reorganizes 12 
CFR 790.2(b).

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

Final Action                    09/22/05                    70 FR 55516

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

Government Levels Affected: None

Agency Contact: Moisette I. Green, Staff Attorney, Office of General 
Counsel, National Credit Union Administration, 1775 Duke Street, 
Alexandria, VA 22314
Phone: 703 518-6553
Fax: 703 518-6319
Email: [email protected]

RIN: 3133-AD15
[FR Doc. 05-17871 Filed 10-28-05; 8:45 am]
BILLING CODE 7535-01-S