Samantha: Hello, this is Samantha Shares.
This episode covers NCUAâs reopening the public comment period on two
recently finalized rules that havenât fully taken effect yet.
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Today, weâre diving into an important update from the National
Credit Union Administration.
This update comes straight from the April twenty-third Federal Register.
If youâre a board member, executive, or compliance officer, youâll
want to pay close attention.
On April twenty-third, the NCUA announced something a little unusualâthey are
reopening the public comment period on two recently finalized rules
that havenât fully taken effect yet.
Hereâs why this matters.
Earlier this year, the White House issued whatâs called a
âRegulatory Freeze Pending Review.â
In plain English, that means federal agencies were asked to hit pause
and review any major new rules that hadnât already kicked in.
NCUA, just like other agencies, is now inviting the publicâyes, that means
youâto weigh in again on two big rules.
The first is called Simplification of Share Insurance.
This rule was finalized back in September twenty twenty-four and
is scheduled to fully take effect December first, twenty twenty-six.
The goal is to make NCUAâs share insurance rules simpler and clearer for
both credit unions and your members.
With this new comment window, you have another chance to raise questions,
flag concerns, or support the parts of the rule you think are working.
The second rule is about Succession Planning.
This one was finalized in December twenty twenty-four and is set to take
effect January first, twenty twenty-six.
Itâs designed to make sure credit unions have solid plans in place for
leadership successionâa big deal, especially for smaller credit unions
and those with retiring executives.
This new comment period is your opportunity to share whether you
think the rule strikes the right balance, or if it creates any
challenges for your operations.
So how can you submit your comments?
You have until June twenty-third, twenty twenty-five.
You can go online to regulations dot gov and look up the docket numbers for
each rule, or send your comments to the NCUA Secretary in Alexandria, Virginia.
If youâre old school, you can even hand deliver them.
You might be thinking, didnât we already comment on these rules?
Yes, many didâbut this is a second bite at the apple, thanks to the new
administrationâs regulatory review.
If your credit union has operational concerns, needs more
clarity, or has suggestions for how the rules are implemented,
now is your chance to be heard.
Here are your quick takeaways.
NCUA is actively seeking comments on the share insurance simplification
and succession planning rules, both of which are set to take
effect in twenty twenty-six.
The deadline for comments is June twenty-third, twenty twenty-five.
Your feedback could help shape how these rules roll out, or even
whether they proceed as planned.
Thatâs it for todayâs update.
Weâll keep you posted on any new developments and what they
mean for your credit union.
If you have questions or want to share how your credit union is preparing for
these changes, send us a noteâwe might feature your insights in a future episode.
Thanks for tuning in.
Stay informed, stay compliant, and stay ahead.
If your Credit union could use assistance with your exam, reach out to Mark Treichel
on LinkedIn, or at mark Treichel dot com.
This is Samantha Shares and we Thank you for listening.