The NCUA Board approved an advance notice of proposed rulemaking (ANPR) to seek stakeholder comments on ways to improve and update the records preservation program regulations during its April meeting.
The NCUA Board wants feedback to determine if updates to its record preservation regulations are needed, and in what manner, so credit unions properly preserve records for business or regulatory purposes.
NCUA Chairman Todd Harper noted the importance for credit unions to maintain “a robust records preservation program—a program whereby vital records can readily be reconstructed.”
Comments are due to the NCUA 60 days after the ANPR is published in the Federal Register.
