NCUA Reopens Public Comment on Succession Planning
Samantha: Hello, this is Samantha Shares.
This episode covers NCUAâs reopening
the public comment period on two
recently finalized rules that
havenât fully taken effect yet.
This podcast is educational
and is not legal advice.
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Today, weâre diving into an
important update from the National
Credit Union Administration.
This update comes straight from the
April twenty-third Federal Register.
If youâre a board member, executive,
or compliance officer, youâll
want to pay close attention.
On April twenty-third, the NCUA announced
something a little unusualâthey are
reopening the public comment period
on two recently finalized rules
that havenât fully taken effect yet.
Hereâs why this matters.
Earlier this year, the White
House issued whatâs called a
âRegulatory Freeze Pending Review.â
In plain English, that means federal
agencies were asked to hit pause
and review any major new rules
that hadnât already kicked in.
NCUA, just like other agencies, is now
inviting the publicâyes, that means
youâto weigh in again on two big rules.
The first is called
Simplification of Share Insurance.
This rule was finalized back in
September twenty twenty-four and
is scheduled to fully take effect
December first, twenty twenty-six.
The goal is to make NCUAâs share
insurance rules simpler and clearer for
both credit unions and your members.
With this new comment window, you have
another chance to raise questions,
flag concerns, or support the parts
of the rule you think are working.
The second rule is about
Succession Planning.
This one was finalized in December
twenty twenty-four and is set to take
effect January first, twenty twenty-six.
Itâs designed to make sure credit
unions have solid plans in place for
leadership successionâa big deal,
especially for smaller credit unions
and those with retiring executives.
This new comment period is your
opportunity to share whether you
think the rule strikes the right
balance, or if it creates any
challenges for your operations.
So how can you submit your comments?
You have until June
twenty-third, twenty twenty-five.
You can go online to regulations dot
gov and look up the docket numbers for
each rule, or send your comments to the
NCUA Secretary in Alexandria, Virginia.
If youâre old school, you
can even hand deliver them.
You might be thinking, didnât we
already comment on these rules?
Yes, many didâbut this is a second
bite at the apple, thanks to the new
administrationâs regulatory review.
If your credit union has
operational concerns, needs more
clarity, or has suggestions for
how the rules are implemented,
now is your chance to be heard.
Here are your quick takeaways.
NCUA is actively seeking comments on
the share insurance simplification
and succession planning rules,
both of which are set to take
effect in twenty twenty-six.
The deadline for comments is June
twenty-third, twenty twenty-five.
Your feedback could help shape
how these rules roll out, or even
whether they proceed as planned.
Thatâs it for todayâs update.
Weâll keep you posted on any
new developments and what they
mean for your credit union.
If you have questions or want to share
how your credit union is preparing for
these changes, send us a noteâwe might
feature your insights in a future episode.
Thanks for tuning in.
Stay informed, stay
compliant, and stay ahead.
If your Credit union could use assistance
with your exam, reach out to Mark Treichel
on LinkedIn, or at mark Treichel dot com.
This is Samantha Shares and
we Thank you for listening.
