View Rule

View EO 12866 Meetings Printer-Friendly Version     Download RIN Data in XML

NCUA RIN: 3133-AF42 Publication ID: Fall 2022 
Title: 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.

Agency: National Credit Union Administration(NCUA)  Priority: Substantive, Nonsignificant 
RIN Status: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Final Rule Stage 
Major: No  Unfunded Mandates: No 
CFR Citation: 12 CFR 701   
Legal Authority: 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   
Legal Deadline:  None
Action Date FR Cite
NPRM  02/03/2022  87 FR 6078   
NPRM Comment Period End  04/04/2022 
Final Action  05/00/2023 
Regulatory Flexibility Analysis Required: No  Government Levels Affected: None 
Small Entities Affected: No  Federalism: No 
Included in the Regulatory Plan: No 
RIN Information URL:  
RIN Data Printed in the FR: No 
Agency Contact:
Ariel Pereira
Senior Staff Attorney
National Credit Union Administration
1775 Duke Street,
Alexandria, VA 22314
Phone:703 548-2778
Fax:703 518-6569