Compliance & Regulatory Updates: May 1, 2024

NCUA Proposed Rule Record Retention: On April 24, the National Credit Union Administration (NCUA) published in the Federal Register an advanced notice of proposed rulemaking (ANPRM) seeking comments on its process to update Part 749 of the Federal Credit Union Act (FCUA) requiring all federally insured credit unions to maintain a records preservation program to identify, store, and reconstruct vital records in the event records are lost or destroyed. 

NCUA 2024 CDLRF Grant Cycle: The NCUA will be hosting a webinar on May 2 at 2:00P.M. (EST) for low-income credit unions that want to apply for the 2024 Community Development Revolving Loan Fund. Credit unions are encouraged to review the Notice of Funding Opportunity which outlines the grant initiatives and grant application guidelines.

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