3133-AF42 202204 Unified Agenda of Federal Regulatory and Deregulatory Actions 3133 National Credit Union Administration NCUA Succession Planning

The NCUA Board (Board) previously issued a proposed rule that would require that Federal Credit Union (FCU) boards of directors establish and adhere to processes for succession planning. The succession plans will help to ensure that the credit union has plans to fill key positions, such as officers of the board, management officials, executive committee members, supervisory committee members, and (where provided for in the bylaws) the members of the credit committee to provide continuity of operations. In addition, the proposed rule would require directors to be knowledgeable about the FCU’s succession plan. Although the proposed rule would apply only to FCUs, the Board’s purpose is to encourage and strengthen succession planning for all credit unions. The proposed rule would provide FCUs with broad discretion in implementing the proposed regulatory requirements to minimize any burden. The Board will review the comments and consider final action.

]]> Substantive, Nonsignificant First Time Published in The Unified Agenda Final Rule Stage No No 12 CFR 701 12 U.S.C. 1752(5) 12 U.S.C. 1755 to 1759 12 U.S.C. 1761a to 1761b 12 U.S.C. 1766 to 1767 12 U.S.C. 1782 12 U.S.C. 1784 to 1787 12 U.S.C. 1789 15 U.S.C. 3717 15 U.S.C. 1601 et seq. 42 U.S.C. 1981 42 U.S.C. 4311 to 4312 No NPRM 02/03/2022 87 FR 6078 NPRM Comment Period End 04/04/2022 Final Action 07/00/2022 No No None No No https://www.ncua.gov/regulation-supervision/rules-regulations/proposed-pending-recently-final-regulations No No Ariel Pereira Senior Staff Attorney 3133 National Credit Union Administration NCUA 703 548-2778 703 518-6569 apereira@ncua.gov 1775 Duke Street, Alexandria VA 22314