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Records Preservation Program and Appendices-Record Retention Guidelines; Catastrophic Act Preparedness Guidelines
Plain English Summary
On April 24, 2024, the NCUA Board announced changes to its rules about preserving important records. This affects all organizations that need to keep these records safe. The Board wants to make the rules clearer and easier to follow by updating definitions and removing unnecessary parts of the guidelines. Agents should review these proposed changes and consider providing feedback if they have suggestions or concerns.
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On April 24, 2024, the NCUA Board (Board) published an advance notice of proposed rulemaking (ANPR) to solicit comments on ways the agency can improve and update its vital records preservation program regulation and accompanying guidelines. Based on public comments received in response to the ANPR and upon further consideration of the issues involved, the Board is publishing this proposed rule to simplify and streamline part 749. The Board is proposing to update part 749 by clarifying the purpose of the regulation, updating the definitions, and removing the appendices.