The NCUA board voted to finalize a CUNA-supported final rule that provides regulatory relief to credit unions by giving them more flexibility in managing their fixed assets. The rule is the second piece of CUNA-backed regulatory relief involving fixed assets finalized by the board in recent years.
The rule amends the regulations surrounding federal credit union occupancy planning and disposal of acquired and abandoned premises.
Specifically, the final rule:
The rule will be effective 30 days after publication in the Federal Register.
The board also approved an interim final rule implementing changes made by the Freedom of Information Act (FOIA) of 2016. The rule contains new procedures for disclosing records under FOIA, as well as fees and notifications to requestors of options for resolving disputes.
It will become effective immediately upon publication in the Federal Register.
Other items on the agenda include:
The meeting also featured a board briefing on the NCUA Guaranteed Notes legacy assets, covered in more detail here.