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NCUA | RIN: 3133-AF57 | Publication ID: Fall 2024 |
Title: Implementation of Financial Data Transparency Act | |
Abstract:
The Department of the Treasury, Board of Governors of the Federal Reserve System, Office of the Comptroller of the Currency, Consumer Financial Protection Bureau, Securities and Exchange Commission, Federal Deposit Insurance Corporation, Federal Housing Finance Agency, Commodity Futures Trading Commission, and NCUA Board published a proposed rule to establish data standards for the collections of information reported to each agency by financial entities under their jurisdiction, as well as the data collected from the Aencies on behalf of the Financial Stability Oversight Council. If finalized, the proposed rule would implement the requirements of section 124 of the Financial Stability Act of 2010 (12 U.S.C. 5321 et seq.), which was added by the James M. Inhofe National Defense Authorization Act for Fiscal Year 2023 (NDAA). The NDAA requires the Agencies to jointly issue proposed rules within 18 months of the NDAA’s enactment, and final rules within two years of enactment. The Agencies will review the public comments and move toward a final rule. |
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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 753 | |
Legal Authority: 12 U.S.C. 5334 12 U.S.C. 1752 et seq. |
Legal Deadline:
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Overall Description of Deadline: 12 U.S.C. 5334 requires the covered agencies to jointly issue proposed rules within 18 months of enactment and final rules within two years of enactment. |
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Timetable:
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Regulatory Flexibility Analysis Required: No | Government Levels Affected: None |
Small Entities Affected: Businesses | 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 | |
Related RINs: Related to 1557-AF22, Related to 2590-AB38, Related to 3064-AF96, Related to 3170-AB20, Related to 3235-AN32 | Related Agencies: Joint: FRS, TREAS, TREAS/OCC, SEC, FDIC, FHFA, CFPB; |
Agency Contact: Regina Metz Senior Attorney Advisor National Credit Union Administration 1775 Duke Street, Alexandria, VA 22314 Phone:703 518-6540 Fax:703 518-6569 Email: rmetz@ncua.gov |