ALEXANDRIA, Va.–NCUA is inviting feedback and input on two regulations it has already finalized in earlier board votes– “Simplification of Share Insurance” and “Succession Planning” – which are set to go into effect in 2026.

According to a request published in the Federal Register, the request was made by the “NCUA Board” April 17. That was the day after the White House fired NCUA board members Todd Harper and Tanya Otsuka.

In the new notice, the agency said a public comment period “will allow interested parties to provide comments about issues of fact, law, and policy raised by the two final rules.” 

Language Looks Familiar

According to Regulatory Report, which was first to report the request for comment, that language, “issues of facts, law, and policy,” appears to have been lifted from one of the scenarios the White House outlined in its Jan. 20 memo, “Regulatory Freeze Pending Review,” in identifying rules that should be reviewed by the Office of Management and Budget (OMB) prior to implementation.

The NCUA Board approved both rules by unanimous (3-0) vote.

About the Share Insurance Rule

The share insurance rule, published Sept. 30, 2024, is set to take effect Dec. 1, 2026, and among other things it establishes a “trust account” category for share insurance, providing for coverage of funds in both revocable and irrevocable trusts deposited at federally insured credit unions in the accounts of members or those otherwise eligible to maintain insured accounts. 

The rule was adopted in part to bring it in line with deposit insurance rules of the FDIC, Regulatory Report said.

About Succession Planning Rule

The succession planning rule, published Dec. 26, 2024, is set to take effect Jan. 1, 2026 and requires federally insured credit union boards of directors to establish succession planning processes for key positions, both Regulatory Report and the CU Daily have reported.