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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.

 
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:
Action Source Description Date
NPRM  Statutory    06/23/2024 
Final  Statutory    12/23/2024 

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.

Timetable:
Action Date FR Cite
NPRM  08/22/2024  89 FR 67890   
NPRM Comment Period End  10/21/2024 
Final Action  12/00/2024 
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