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NCUA RIN: 3133-AF53 Publication ID: Spring 2024 
Title: Simplification of Share Insurance Rules 
Abstract:

The NCUA Board issued a proposed rule to amend its regulations governing share insurance coverage. The proposal would simplify the share insurance regulations by establishing a trust accounts category that governs coverage of shares of both revocable trusts and irrevocable trusts using a common calculation and provide consistent share insurance treatment for all mortgage servicing account balances held to satisfy principal and interest obligations to a lender. The comment period ended on December 26, 2023, and the Board is reviewing the comments and considering 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: Undetermined  Unfunded Mandates: No 
CFR Citation: 12 CFR 745   
Legal Authority: 12 U.S.C. 1752(5)    12 U.S.C. 1757    12 U.S.C. 1765 to 1766    12 U.S.C. 1781 to 1782    12 U.S.C. 1787 to 1789    Title V, Pub. L. 109-120    120 Stat. 1966   
Legal Deadline:  None
Timetable:
Action Date FR Cite
NPRM  10/25/2023  88 FR 73249   
NPRM Comment Period End  12/26/2023 
Final Rule  07/00/2024 
Regulatory Flexibility Analysis Required: Undetermined  Government Levels Affected: None 
Small Entities Affected: No  Federalism: No 
Included in the Regulatory Plan: No 
RIN Information URL: https://www.ncua.gov/regulation-supervision/rulemakings-proposals-comment  
RIN Data Printed in the FR: No 
Agency Contact:
Thomas I. Zells
Senior Staff Attorney
National Credit Union Administration
1775 Duke Street,
Alexandria, VA 22314
Phone:703 548-2478
Fax:703 518-8566
Email: tizells@ncua.gov