WEBVTT NOTE This file was generated by Descript 00:00:00.470 --> 00:00:02.400 Samantha: Hello, this is Samantha Shares. 00:00:03.000 --> 00:00:07.180 This episode covers NCUA’s reopening the public comment period on two 00:00:07.180 --> 00:00:10.340 recently finalized rules that haven’t fully taken effect yet. 00:00:11.147 --> 00:00:14.377 This podcast is educational and is not legal advice. 00:00:14.877 --> 00:00:18.907 We are sponsored by Credit Union Exam Solutions Incorporated, whose 00:00:18.907 --> 00:00:21.957 team has over two hundred and Forty years of National Credit 00:00:21.957 --> 00:00:23.907 Union Administration experience. 00:00:24.377 --> 00:00:27.987 We assist our clients with N C U A so they save time and money. 00:00:28.477 --> 00:00:32.397 If you are worried about a recent, upcoming or in process N C U A 00:00:32.397 --> 00:00:36.857 examination, reach out to learn how they can assist at Mark Treichel DOT COM. 00:00:37.327 --> 00:00:41.657 Also check out our other podcast called With Flying Colors where we provide tips 00:00:41.687 --> 00:00:44.217 on how to achieve success with N C U A. 00:00:44.932 --> 00:00:48.052 Today, we’re diving into an important update from the National 00:00:48.052 --> 00:00:49.732 Credit Union Administration. 00:00:50.462 --> 00:00:54.012 This update comes straight from the April twenty-third Federal Register. 00:00:54.552 --> 00:00:58.132 If you’re a board member, executive, or compliance officer, you’ll 00:00:58.132 --> 00:00:59.572 want to pay close attention. 00:01:00.332 --> 00:01:04.382 On April twenty-third, the NCUA announced something a little unusual—they are 00:01:04.382 --> 00:01:08.322 reopening the public comment period on two recently finalized rules 00:01:08.322 --> 00:01:10.082 that haven’t fully taken effect yet. 00:01:10.692 --> 00:01:11.972 Here’s why this matters. 00:01:12.687 --> 00:01:15.567 Earlier this year, the White House issued what’s called a 00:01:15.567 --> 00:01:17.657 “Regulatory Freeze Pending Review.” 00:01:18.457 --> 00:01:22.197 In plain English, that means federal agencies were asked to hit pause 00:01:22.297 --> 00:01:25.467 and review any major new rules that hadn’t already kicked in. 00:01:26.007 --> 00:01:30.347 NCUA, just like other agencies, is now inviting the public—yes, that means 00:01:30.347 --> 00:01:32.407 you—to weigh in again on two big rules. 00:01:33.137 --> 00:01:35.857 The first is called Simplification of Share Insurance. 00:01:36.447 --> 00:01:39.787 This rule was finalized back in September twenty twenty-four and 00:01:39.787 --> 00:01:43.407 is scheduled to fully take effect December first, twenty twenty-six. 00:01:43.897 --> 00:01:47.857 The goal is to make NCUA’s share insurance rules simpler and clearer for 00:01:47.857 --> 00:01:49.807 both credit unions and your members. 00:01:50.367 --> 00:01:53.847 With this new comment window, you have another chance to raise questions, 00:01:54.007 --> 00:01:57.637 flag concerns, or support the parts of the rule you think are working. 00:01:58.377 --> 00:02:00.677 The second rule is about Succession Planning. 00:02:01.357 --> 00:02:05.057 This one was finalized in December twenty twenty-four and is set to take 00:02:05.057 --> 00:02:07.447 effect January first, twenty twenty-six. 00:02:08.007 --> 00:02:11.577 It’s designed to make sure credit unions have solid plans in place for 00:02:11.577 --> 00:02:15.797 leadership succession—a big deal, especially for smaller credit unions 00:02:15.977 --> 00:02:17.827 and those with retiring executives. 00:02:18.457 --> 00:02:21.557 This new comment period is your opportunity to share whether you 00:02:21.557 --> 00:02:24.877 think the rule strikes the right balance, or if it creates any 00:02:24.877 --> 00:02:26.657 challenges for your operations. 00:02:27.315 --> 00:02:29.085 So how can you submit your comments? 00:02:29.615 --> 00:02:32.225 You have until June twenty-third, twenty twenty-five. 00:02:32.765 --> 00:02:36.635 You can go online to regulations dot gov and look up the docket numbers for 00:02:36.635 --> 00:02:41.575 each rule, or send your comments to the NCUA Secretary in Alexandria, Virginia. 00:02:42.185 --> 00:02:44.675 If you’re old school, you can even hand deliver them. 00:02:45.430 --> 00:02:48.310 You might be thinking, didn’t we already comment on these rules? 00:02:48.860 --> 00:02:52.740 Yes, many did—but this is a second bite at the apple, thanks to the new 00:02:52.740 --> 00:02:54.720 administration’s regulatory review. 00:02:55.330 --> 00:02:58.440 If your credit union has operational concerns, needs more 00:02:58.440 --> 00:03:02.030 clarity, or has suggestions for how the rules are implemented, 00:03:02.360 --> 00:03:03.930 now is your chance to be heard. 00:03:04.326 --> 00:03:06.266 Here are your quick takeaways. 00:03:06.866 --> 00:03:10.866 NCUA is actively seeking comments on the share insurance simplification 00:03:10.866 --> 00:03:14.206 and succession planning rules, both of which are set to take 00:03:14.206 --> 00:03:15.796 effect in twenty twenty-six. 00:03:16.396 --> 00:03:19.706 The deadline for comments is June twenty-third, twenty twenty-five. 00:03:20.306 --> 00:03:23.836 Your feedback could help shape how these rules roll out, or even 00:03:23.836 --> 00:03:25.356 whether they proceed as planned. 00:03:26.152 --> 00:03:27.582 That’s it for today’s update. 00:03:28.072 --> 00:03:30.712 We’ll keep you posted on any new developments and what they 00:03:30.712 --> 00:03:32.172 mean for your credit union. 00:03:32.752 --> 00:03:36.442 If you have questions or want to share how your credit union is preparing for 00:03:36.442 --> 00:03:40.982 these changes, send us a note—we might feature your insights in a future episode. 00:03:41.782 --> 00:03:42.852 Thanks for tuning in. 00:03:43.492 --> 00:03:46.162 Stay informed, stay compliant, and stay ahead. 00:03:46.897 --> 00:03:51.087 If your Credit union could use assistance with your exam, reach out to Mark Treichel 00:03:51.087 --> 00:03:53.817 on LinkedIn, or at mark Treichel dot com. 00:03:54.367 --> 00:03:56.997 This is Samantha Shares and we Thank you for listening.