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NCUA

RIN: 3133-AF55

Publication ID: Spring 2023

Title: ●Incorporation of Existing Statement of Policy Regarding Exceptions to Employment Restrictions Under Section 205(d) of the Federal Credit Union Act
Abstract: The NCUA Board is considering issuing a proposed rule to incorporate Interpretive Ruling and Policy Statement 19-1 (IRPS 19-1) regarding statutory prohibitions imposed by Section 205(d) of the Federal Credit Union Act into its regulations. Section 205(d) prohibits, except with the prior written consent of the Board, any person who has been convicted of any criminal offense involving dishonesty or breach of trust, or who has entered into a pretrial diversion or similar program in connection with a prosecution for such offense, from participating in the affairs of an insured credit union. The Board is also considering amendments to IRPS 19-1 to reflect recent statutory changes to Section 205(d) of the Federal Credit Union Act and increase consistency with comparable Federal Deposit Insurance Corporation regulations.
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: Undetermined	Unfunded Mandates: No
CFR Citation: Not Yet Determined (To search for a specific CFR, visit the Code of Federal Regulations.)
Legal Authority: 12 U.S.C. 1785(d)

Legal Deadline: None

Timetable:

Action	Date	FR Cite
NPRM	07/00/2023

Regulatory Flexibility Analysis Required: No	Government Levels Affected: None
Small Entities Affected: No	Federalism: No
Included in the Regulatory Plan: No
RIN Information URL: https://ncua.gov/regulation-supervision/rulemakings-proposals-comment
RIN Data Printed in the FR: No
Agency Contact: Rachel J. Ackmann Senior Staff Attorney National Credit Union Administration 1775 Duke Street, Alexandria, VA 22314 Phone:703 548-2601 Fax:703 518-6569 Email: rackmann@ncua.gov