3133-AF42 202410 The Regulatory Plan and the Unified Agenda of Federal Regulatory and Deregulatory Actions 3133 National Credit Union Administration NCUA Succession Planning

In February 2022, the NCUA Board published a proposed rule that would require that federal credit union boards of directors establish and adhere to processes for succession planning. The succession plans would help to ensure that the credit unions have 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 credit union's succession plan. After reviewing the comments, the NCUA Board published a second proposed rule in July 2024 that extends the proposed requirements to all consumer federally insured credit unions and offers additional details and guidance for small credit unions, including an optional succession planning template. 

]]> Substantive, Nonsignificant Previously Published in The Unified Agenda Final Rule Stage No No 12 CFR 701 12 CFR 741 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. 1781 to 1790 15 U.S.C. 3717 15 U.S.C. 1601 et seq. 42 U.S.C. 1981 31 U.S.C. 3717 42 U.S.C. 4311 to 4312 No NPRM 02/03/2022 87 FR 6078 NPRM Comment Period End 04/04/2022 Second NPRM 07/25/2024 89 FR 60329 Second NPRM Comment Period End 09/23/2024 Final Rule 12/00/2024 No No None No No https://www.ncua.gov/regulation-supervision/rulemakings-proposals-comment 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