Federal Register #2026-16024

NCUA rescinds IRPS 10-1, consolidating chartering requirements for federal credit unions

This notice announces a regulatory update by the National Credit Union Administration (NCUA): - The NCUA Board is rescinding Interpretive Ruling and Policy Statement (IRPS) 10-1 - All chartering requirements for federal credit unions (FCUs) are now consolidated into the Chartering and Field of Membership Manual - The update aims to reduce compliance burdens by streamlining guidance into a single manual - No substantive changes to requirements; this is an administrative consolidation - No procurement of products or services is involved - No OEMs, vendors, products, or purchase quantities are mentioned - The rule also revises regulations related to credit union service contracts to reduce administrative costs and complexity, but does not specify any procurement

Description

The National Credit Union Administration (NCUA) Board is rescinding Interpretive Ruling and Policy Statement (IRPS) 10-1. The Chartering and Field of Membership Manual now incorporates NCUA's current chartering requirements for federal credit unions (FCUs), making IRPS 10-1 unnecessary. This rescission aims to reduce the burden for FCUs by limiting the number of sources they must check for compliance. The final rule is effective September 8, 2026, and does not change substantive requirements but streamlines compliance by consolidating guidance into the Chartering Manual.

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