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National Credit Union Administration (NCUA)

Charters and supervises federally chartered credit unions and insures savings in federal and most state-chartered credit unions.

PART 702—CAPITAL ADEQUACY

Establishes a framework of mandatory and discretionary supervisory actions, applicable according to a credit union’s net worth ratio, designed primarily to restore and improve the net worth of federally-insured credit unions.

PART 703—INVESTMENT AND DEPOSIT ACTIVITIES

Interprets several of the provisions of  the Federal Credit Union Act (Act), which list those securities, deposits, and other obligations in which a Federal credit union may invest. Identifies certain investments and deposit activities permissible under the Act and prescribes regulations governing those investments and deposit activities on the basis of safety and soundness concerns. Identifies and prohibits certain investments and deposit activities.

PART 704—CORPORATE CREDIT UNIONS

Establishes special rules for all federally insured corporate credit unions. Non federally insured corporate credit unions must agree, by written contract, to both adhere to the requirements of this part and submit to examinations, as determined by NCUA, as a condition of receiving shares or deposits from federally insured credit unions. Grants certain additional authorities to federal corporate credit unions.

PART 705—COMMUNITY DEVELOPMENT REVOLVING LOAN FUND ACCESS FOR CREDIT UNIONS

Describes how NCUA makes money available to credit unions from its Community Development Revolving Loan Fund.

PART 707—TRUTH IN SAVINGS

Requires credit unions to provide disclosures so that members and potential members can make meaningful comparisons about accounts among credit unions and depository institutions.

PART 708b—MERGERS OF FEDERALLY-INSURED CREDIT UNIONS; VOLUNTARY TERMINATION OR CONVERSION OF INSURED STATUS

Prescribes the procedures for merging one or more credit unions with a continuing credit union where at least one of the credit unions is federally-insured.  Prescribes the procedures and notice requirements for termination of federal insurance or conversion of federal insurance to nonfederal insurance, including termination or conversion resulting from a merger.  Prescribes required forms for use in conversion of federal insurance to nonfederal insurance.

PART 709—INVOLUNTARY LIQUIDATION OF FEDERAL CREDIT UNIONS AND ADJUDICATION OF CREDITOR CLAIMS INVOLVING FEDERALLY INSURED CREDIT UNIONS IN LIQUIDATION

Provides for the involuntary liquidation and adjudication of creditor claims in all cases involving federally-insured credit unions, the treatment by the Board as conservator or liquidating agent of financial assets transferred in connection with a securitization or participation or of public funds held by a federally-insured credit union, and the allowance of prepayment fees to Federal Home Loan Banks under specified conditions.

PART 710—VOLUNTARY LIQUIDATION

Describes the requirements that must be followed to accomplish the voluntary liquidation of a Federal credit union.

PART 711—MANAGEMENT OFFICIAL INTERLOCKS

Fosters competition by generally prohibiting a management official from serving two nonaffiliated depository organizations in situations where the management interlock likely would have an anticompetitive effect.

PART 712—CREDIT UNION SERVICE ORGANIZATIONS (CUSOs)

Establishes when a federal credit union (FCU) can invest in and make loans to credit union service organizations.

PART 713—FIDELITY BOND AND INSURANCE COVERAGE FOR FEDERAL CREDIT UNIONS

Provides the requirements for fidelity bonds for Federal credit union employees and officials and for other insurance coverage for losses such as theft, holdup, vandalism, etc., caused by persons outside the credit union.

PART 714—LEASING

Covers the standards and requirements that a federal credit union must follow when engaged in the leasing of personal property.

PART 715—SUPERVISORY COMMITTEE AUDITS AND VERIFICATIONS

Prescribes the responsibilities of the Supervisory Committee to obtain an annual audit of the credit union according to its charter type and asset size, and to conduct a verification of members’ accounts.

PART 716—PRIVACY OF CONSUMER FINANCIAL INFORMATION

The rules formerly at 12 CFR part 716 have been republished by the Consumer Financial Protection Bureau at 12 CFR part 1016, “Privacy of Consumer Financial Information (Regulation P)”.

PART 721—INCIDENTAL POWERS

Authorizes a federal credit union to engage in activities incidental to its business and describes how interested parties may request a legal opinion on whether an activity is within a federal credit union’s incidental powers or apply to add new activities or categories to the regulation.

PART 722—APPRAISALS

Requires real estate appraisals used in connection with federally related transactions to be performed in writing, in accordance with uniform standards, by appraisers whose competency has been demonstrated and whose professional conduct will be subject to effective supervision.

PART 723—MEMBER BUSINESS LOANS

Sets out policy and program responsibilities that a federally insured credit union must adopt and implement as part of a safe and sound commercial lending program. It also incorporates the statutory limit on the aggregate amount of member business loans that a federally insured credit union may make.

PART 725—NATIONAL CREDIT UNION ADMINISTRATION CENTRAL LIQUIDITY FACILITY

Regulations implementing the National Credit Union Central Liquidity Facility Act which is designed to improve the general financial stability of credit unions by meeting their liquidity needs and thereby encourage savings, support consumer and mortgage lending and provide basic financial resources to all segments of the economy.

PART 740—ACCURACY OF ADVERTISING AND NOTICE OF INSURED STATUS

Prescribes the requirements for the official sign insured credit unions must display and the requirements with regard to the official advertising statement insured credit unions must include in their advertisements. It requires that all other kinds of advertisements be accurate. It also establishes requirements for advertisements of excess insurance.

PART 741—REQUIREMENTS FOR INSURANCE

Prescribes various requirements for obtaining and maintaining federal insurance and the payment of insurance premiums and capitalization deposit.

PART 745—SHARE INSURANCE AND APPENDIX

Describes the insurance coverage of various types of member accounts. In general, all types of member share accounts received by the credit union in its usual course of business, including regular shares, share certificates, and share draft accounts, represent equity and are insured.

PART 747—ADMINISTRATIVE ACTIONS, ADJUDICATIVE HEARINGS, RULES OF PRACTICE AND PROCEDURE, AND INVESTIGATIONS

Describes the various formal and informal adjudicative actions and non-adjudicative proceedings available to the National Credit Union Administration Board (“NCUA Board”), the grounds for those actions and proceedings, and the procedures used in formal and informal hearings related to each available action.

PART 749—RECORDS PRESERVATION PROGRAM AND APPENDICES—RECORD RETENTION GUIDELINES; CATASTROPHIC ACT PREPAREDNESS GUIDELINES

Describes the obligations of all federally-insured credit unions to maintain a records preservation program to identify, store and reconstruct vital records in the event that the credit union’s records are destroyed and provides recommendations for restoring vital member services.

PART 750—GOLDEN PARACHUTE AND INDEMNIFICATION PAYMENTS

Lmits and prohibits, in certain circumstances, the ability of Federally insured credit unions, including Federally and state chartered natural person credit unions and Federally and state chartered corporate credit unions, to enter into contracts to pay and to make golden parachute and indemnification payments to institution-affiliated parties (IAPs).

PART 760—LOANS IN AREAS HAVING SPECIAL FLOOD HAZARDS

Implements the requirements of the National Flood Insurance Act of 1968 and the Flood Disaster Protection Act of 1973, as amended.

PART 761—REGISTRATION OF RESIDENTIAL MORTGAGE LOAN ORIGINATORS

The rules formerly at 12 CFR part 761 have been republished by the Consumer Financial Protection Bureau at 12 CFR part 1007, “S.A.F.E. Mortgage Licensing Act—Federal Registration of Residential Mortgage Loan Originators (Regulation G)”.