Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
NCUA details latest semiannual regulatory agenda
WASHINGTON (5/12/09)—In its latest semiannual regulatory agenda, the National Credit Union Administration (NCUA) plans to review elements of its rules regarding the confidentiality of suspicious activity reports (SARS). The regulatory agenda, published in the Federal Register, details upcoming regulatory developments within the NCUA. As part of its triennial review of existing regulations, the NCUA plans to examine its current SARS provisions to identify ways to “clarify the scope” of its current confidentiality rules. A notice of proposed rulemaking (NPRM) will be issued this June, according to the release. The Credit Union National Association (CUNA) has recently asked for comments on proposed rule changes that would clarify the scope of confidentiality prohibitions for SARs, address a prohibition against the disclosure of a SAR by the government, clarify that standards applicable to government SAR disclosures are consistent with the goals of the Banker Secrecy Act (BSA), and incorporate elements of the USA Patriot Act into current safe harbor provisions. The NCUA is also working to “update, clarify and improve existing part 705” of its rules governing its Community Development Revolving Loan Fund and to remove any “unnecessary detail” from the rule. The NPRM for these rules has already been issued, and the comment period for this NPRM will end on Nov. 30, the release said.


RSS





print
News Now LiveWire
Maine credit unions put Food Mobile on the road to relieving hunger in rural areas http://t.co/R0xpt6BAZE
1 Day ago
.@TheNCUA's Matz: PALS should be exempt from Military Lending Act proposal #NewsNow http://t.co/Vy9uNhOIEr
1 Day ago
#NewsNow Iowa loan growth 3 times national bank rate http://t.co/fUvudPLg5d
1 Day ago
.@ICBA tallies its Home Depot data breach costs: $90M, 7.5M cards http://t.co/iJgRDC2AKZ
1 Day ago
.@icul's Jury elected treasurer of @WOCCU exec committee http://t.co/HEF1UChN8f
1 Day ago