Federal Register #3133-AG00

NCUA Board Amends Federal Share Insurance Regulations for Credit Unions

This regulatory update from the National Credit Union Administration (NCUA) Board affects all federally insured credit unions (FICUs): - The NCUA Board is amending regulations related to federal share insurance requirements - Eliminates redundant requirements for disclosing when nonmember accounts are not covered by federal share insurance - Specifically removes section 741.10, as its requirements are already covered by NCUA Form 9600 - Clarifies timing for prior notice to members about termination of excess non-federal insurance coverage - No products, services, OEMs, or vendors are involved, as this is a regulatory change - The amendment aims to reduce regulatory burden and streamline compliance for credit unions

Description

The National Credit Union Administration (NCUA) Board is amending its regulations regarding the requirements for obtaining and maintaining federal share insurance with the National Credit Union Share Insurance Fund. The rule applies to all federally insured credit unions (FICUs) and aims to reduce regulatory burden by eliminating unnecessary and redundant requirements related to disclosing when nonmember accounts are not covered by federal share insurance. The final rule also addresses the timing of prior notice to members about the termination of excess non-federal insurance coverage. The rule is effective September 8, 2026.

View original listing