Semiannual Regulatory Agenda

Part XXI

National Credit Union Administration

-----------------------------------------------------------------------

###Semiannual Regulatory Agenda###

[[Page 21956]]

NATIONAL CREDIT UNION ADMINISTRATION (NCUA)

_______________________________________________________________________

NATIONAL CREDIT UNION ADMINISTRATION

12 CFR Ch. VII

Semiannual Regulatory Agenda

AGENCY: National Credit Union Administration (NCUA).

ACTION: Semiannual regulatory agenda.

_______________________________________________________________________

SUMMARY: Pursuant to its ongoing policy of reviewing regulations, NCUA

is publishing a list of current and projected rulemakings, reviews of

existing regulations, and completed actions as of February 24, 2010, to

be included in the Unified Agenda of Federal Regulatory and

Deregulatory Actions.

DATES: This information is current as of February 24, 2010.

ADDRESSES: National Credit Union Administration, 1775 Duke Street,

Alexandria, VA 22314-3428.

FOR FURTHER INFORMATION CONTACT: For each regulation listed, the

person(s) named in the listing, at the above address, unless otherwise

noted, or listed telephone number.

SUPPLEMENTARY INFORMATION: The purpose of this agenda is to enable

credit unions and the public to follow regulatory development and

review at NCUA, and participate in that process more effectively.

Entries for the agenda appear in one of five possible categories:

prerule stage; proposed rule stage; final rule stage; completed/

withdrawn actions; or long-term actions.

The agenda is published pursuant to NCUA Interpretive Ruling

and Policy Statement Number 87-2, ``Developing and Reviewing

Government Regulations,'' 54 FR 35231 (September 18, 1987), as

amended by IRPS 03-2, 68 FR 31949 (May 29, 2003), which sets out

NCUA's policy and procedures for developing and reviewing its

regulations. NCUA's policy is to ensure that regulations impose

only the minimum required burdens on credit unions, consumers, and

the public; are appropriate for the size of the financial

institution they regulate; are issued only after full public

participation; and are clear and understandable. Further, NCUA

undertakes to review all regulations every three years to clarify

and simplify existing regulations and eliminate redundant and

unnecessary provisions.

Approved by the NCUA Board on February 24, 2010.

Mary Rupp,

Secretary of the Board.

National Credit Union Administration--Completed Actions

----------------------------------------------------------------------------------------------------------------

Regulation

Sequence Title Identifier

Number Number

----------------------------------------------------------------------------------------------------------------

412 Privacy of Consumer Financial Information............................................. 3133-AC84

413 Confidentiality of Suspicious Activity Reports........................................ 3133-AD61

414 Unfair or Deceptive Acts or Practices; Clarifications................................. 3133-AD62

----------------------------------------------------------------------------------------------------------------

_______________________________________________________________________

National Credit Union Administration (NCUA) Completed Actions

_______________________________________________________________________

412. PRIVACY OF CONSUMER FINANCIAL INFORMATION

Legal Authority: 15 USC 6801 et seq

Abstract: NCUA issued an interagency rule on model privacy notices and

ways financial institutions can make them clear and conspicuous.

Timetable:

________________________________________________________________________

Action Date FR Cite

________________________________________________________________________

ANPRM 12/30/03 68 FR 75164

ANPRM Comment Period End 03/29/04

NPRM 03/29/07 72 FR 14939

Correction 04/09/07 72 FR 16875

NPRM Comment Period End 05/29/07

ANPRM 07/01/09 74 FR 31529

ANPRM Comment Period End 08/31/09

Final Action 12/01/09 74 FR 62890

Regulatory Flexibility Analysis Required: Yes

Agency Contact: Regina M. Metz, Staff Attorney, Office of General

Counsel, National Credit Union Administration, 1775 Duke Street,

Alexandria, VA 22314

Phone: 703 518-6561

Fax: 703 518-6569

Email: [email protected]

RIN: 3133-AC84

_______________________________________________________________________

413. CONFIDENTIALITY OF SUSPICIOUS ACTIVITY REPORTS

Legal Authority: 31 USC 5311 to 5330

Abstract: The agency has determined that it is unlikely to take further

regulatory action concerning the scope of confidentiality applicable to

filed Suspicious Activity Reports in the next year and is, therefore,

removing this rule from the Regulatory Agenda.

Timetable:

________________________________________________________________________

Action Date FR Cite

________________________________________________________________________

Withdrawn 02/24/10

Regulatory Flexibility Analysis Required: Yes

Agency Contact: Ross P. Kendall, Trial Attorney, National Credit Union

Administration, 1775 Duke Street, Alexandria, VA 22314

Phone: 703 518-6562

TDD Phone: 703 518-6332

Fax: 703 518-6569

Email: [email protected]

RIN: 3133-AD61

_______________________________________________________________________

414. UNFAIR OR DECEPTIVE ACTS OR PRACTICES; CLARIFICATIONS

Legal Authority: 15 USC 45; 15 USC 57a

Abstract: NCUA is withdrawing the substantive requirements of the UDAP

Rule as unnecessary due to the

[[Page 21957]]

enactment of the Credit Card Accountability, Responsibility, and

Disclosure Act of 2009 (Credit CARD Act) on May 22, 2009, and

amendments to Regulation Z implementing the Credit CARD Act that will

become effective on February 22, 2010. For procedural reasons, the

substantive requirements of the UDAP Rule will be withdrawn effective

July 1, 2010, but it is NCUA's intent that only the technical

clarifications to part 706 become effective and that the substantive

requirements will not take effect.

Timetable:

________________________________________________________________________

Action Date FR Cite

________________________________________________________________________

NPRM 05/05/09 74 FR 20804

NPRM Comment Period End 06/04/09

Final Action 02/10/10 75 FR 6558

Regulatory Flexibility Analysis Required: Yes

Agency Contact: Moisette I. Green, Staff Attorney, Office of General

Counsel, National Credit Union Administration, 1775 Duke Street,

Alexandria, VA 22314-3428

Phone: 703 518-6540

Fax: 703 518-6319

Email: [email protected]

RIN: 3133-AD62

[FR Doc. 2010-8979 Filed 04-23-10; 8:45 am]

BILLING CODE 7535-01-S