NCUA’s 2023 spring rule making agenda

by Keith Schostag, NAFCU Compliance Blog

On June 14th, the Office of Information and Regulatory Affairs released the Spring 2023 Unified Agenda of Regulatory and Deregulatory Actions. This Agenda includes expected regulatory actions for the rest of the year and beyond. Here are the expected final rules, pre-rules, and proposed rules for the Consumer Financial Protection Bureau (CFPB), Financial Crimes Enforcement Network (FinCEN), and the National Credit Union Administration (NCUA).  In this blog, we’ll go over NCUA’s planned agenda.

The agenda lists one pre-rule, seven proposed rules, and nine final rules for NCUA. The expected or actual issuance dates are in parenthesis.

  • Climate-Related Financial Risk (June, 2023): NCUA is planning on releasing an Advanced Notice of Proposed Rule Making (ANPRM) that will seek input on current/prospective climate-related financial risks to federally-insured credit unions.  
  • Automated Valuation Models (June 1, 2023): This proposed rule deals with automated valuation models (AVMs) and was published on June 1st. The rule implements quality control standards required by the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) for AVMs. You can find NAFCU’s summary of the proposed rule here.

 

continue reading »