Rules of practice and procedure final rule published
ALEXANDRIA, VA (January 3, 2024) — The National Credit Union Administration, along with the Board of Governors of the Federal Reserve System (Federal Reserve Board), the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC), published a final rule that amends the Uniform Rules of Practice and Procedure (Uniform Rules) in agency regulations to recognize the use of electronic communications in all aspects of administrative hearings and to otherwise increase the efficiency and fairness of administrative adjudications. The NCUA and the OCC are also removing from the Uniform Rules the remaining references to the Office of Thrift Supervision (OTS), which was abolished in 2011.
The rule is in Title 12 of the Code of Federal Regulations at Part 747 and takes effect on April 1, 2024.
About National Credit Union Administration (NCUA)
The NCUA is the independent federal agency created by the U.S. Congress to regulate, charter and supervise federal credit unions. With the backing of the full faith and credit of the United States, the NCUA operates and manages the National Credit Union Share Insurance Fund, insuring the deposits of more than 135 million account holders in all federal credit unions and the overwhelming majority of state-chartered credit unions. The NCUA also protects consumers and educates the public on consumer protection and financial literacy issues.
