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NCUA

RIN: 3133-AE09

Publication ID: 2012

Title: ●Designation of Low-Income Status
Abstract: The NCUA Board proposes to amend its low-income credit unions regulation by extending the time credit unions have to accept a low-income designation. Under the current rule, a Federal credit union (FCU) that has received notification from NCUA that it qualifies for a low-income designation has 30 days to notify NCUA that it wishes to receive the designation. Some FCUs may find it difficult to respond this quickly, so the proposed rule extends the response period to 90 days. The proposed rule also makes minor, nonsubstantive technical amendments to NCUA's insurance regulation to reflect current agency practice in this regard.
Agency: National Credit Union Administration(NCUA)	Priority: Substantive, Nonsignificant
RIN Status: First time published in the Unified Agenda	Agenda Stage of Rulemaking: Proposed Rule Stage
Major: No	Unfunded Mandates: No
CFR Citation: 12 CFR 701.34 12 CFR 741.204
Legal Authority: 12 USC 1752(5) 12 USC 1757 12 USC 1765 to 1766(a) 12 USC 1781 to 1790 12 USC 1790d title V, PL 109-351 120 Stat 1966 31 USC 3717

Legal Deadline: None

Timetable:

Action	Date	FR Cite
NPRM	12/00/2012
NPRM Comment Period End	01/00/2013

Regulatory Flexibility Analysis Required: No	Government Levels Affected: None
Small Entities Affected: No	Federalism: No
Included in the Regulatory Plan: No
RIN Information URL: www.ncua.gov/Legal/Regs/Pages/PropRegs.aspx
RIN Data Printed in the FR: No
Agency Contact: Pamela Yu Special Counsel to the General Counsel National Credit Union Administration 1775 Duke Street, Alexandria, VA 22314 Phone:703 518-6540 Fax:703 518-6569 Email: pyu@ncua.gov