Federal Register / Vol. 84, No. 24 / Tuesday, February 5, 2019 / Rules and Regulations 1601 

1 5 U.S.C. 553(b)(A), (B). 

2See 12 U.S.C. 1766, 1789. 

3See e.g., 15 U.S.C. 6801(b) (requiring the NCUA 

and the federal banking agencies to establish 

standards for the administrative, technical, and 

physical safeguards to protect nonpublic personal 

information). 

4 12 CFR 700.2. 

5Public Law 95–630, Tit. XVIII, sec. 1802, 92 

Stat. 3641, 3719 (Nov. 10, 1978) (codified as 12 

U.S.C. 1795 through 1795k). 

Unfunded Mandates Reform Act of 

1995 

Pursuant to the Unfunded Mandates 

Reform Act of 1995, 2 U.S.C. 602, 632, 

653, 1501–1571, the effects of this 

regulation on state, local, and tribal 

governments and the private sector have 

been assessed. This regulation will not 

compel the expenditure in any one year 

of $100 million or more by state, local, 

and tribal governments, in the aggregate, 

or by the private sector. Therefore, a 

statement under section 1532 is not 

required. 

Submission to Congress and the 

General Accounting Office 

Pursuant to 5 U.S.C. 810(a)(1)(A), the 

FRTIB submitted a report containing 

this rule and other required information 

to the U.S. Senate, the U.S. House of 

Representatives, and the Comptroller 

General of the United States before 

publication of this rule in the Federal 

Register. This rule is not a major rule as 

defined at 5 U.S.C. 804(2). 

List of Subjects 

5 CFR Part 1655 

Credit, Government employees, 

Pensions, Retirement. 

Ravindra Deo, 

Executive Director, Federal Retirement Thrift 

Investment Board. 

For the reasons stated in the 

preamble, the FRTIB amends 5 CFR 

chapter VI as follows: 

PART 1655—LOAN PROGRAM 

■ 1. The authority citation for Part 1655 

continues to read as follows: 

Authority: 5 U.S.C. 8432d, 8433(g), 

8439(a)(3) and 8474. 

■ 2. Revise § 1655.2 to read as follows: 

§ 1655.2 Eligibility for loans. 

A participant can apply for a TSP 

general purpose or residential loan if: 

(a) More than 60 calendar days have 

elapsed since the participant has repaid 

in full a TSP loan of the same type. 

(b) The participant is in pay status; 

(c) The participant is eligible to 

contribute to the TSP (or would be 

eligible to contribute but for the 

suspension of the participant’s 

contributions because he or she 

obtained a financial hardship in-service 

withdrawal); 

(d) The participant has at least $1,000 

in employee contributions and 

attributable earnings in his or her 

account; and 

(e) The participant has not had a TSP 

loan declared a taxable distribution 

within the last 12 months for any reason 

other than a separation from 

Government service. 

Paragraph (b) of this section shall not 

apply to loan requests made during a 

Government shutdown by participants 

who are furloughed or excepted from 

furlough due to the Government 

shutdown. 

[FR Doc. 2019–01060 Filed 2–4–19; 8:45 am] 

BILLING CODE 6760–01–P 

NATIONAL CREDIT UNION 

ADMINISTRATION 

12 CFR Parts 700, 701, 702, 703, 704, 

705, 708a, 708b, 709, 710, 715, 717, 723, 

725, 741, 745, 746, 747, 748, 749, 750, 

760, 790, 791, and 792 

RIN 3133–AE61 

Technical Amendments 

AGENCY: National Credit Union 

Administration (NCUA). 

ACTION: Final rule. 

SUMMARY: The NCUA Board (Board) is 

issuing a final rule to make technical 

amendments to various provisions of 

the NCUA’s regulations. These technical 

amendments correct minor drafting 

errors and inaccurate legal citations and 

remove unnecessary regulatory 

provisions no longer applicable to 

federally insured credit unions (FICUs). 

DATES: The final rule is effective on 

February 5, 2019. 

FOR FURTHER INFORMATION CONTACT: 

Benjamin M. Litchfield, Staff Attorney, 

Division of Regulations and Legislation, 

Office of General Counsel, at 1775 Duke 

Street, Alexandria, VA 22314 or 

telephone: (703) 518–6540. 

SUPPLEMENTARY INFORMATION: 

I. Background 

II. Legal Authority 

III. Section-by-Section Analysis 

IV. Regulatory Procedures 

I. Background 

Occasionally, the Board will issue a 

technical amendments rule correcting 

minor drafting errors, inaccurate legal 

citations, or superfluous regulatory 

provisions throughout the NCUA’s 

regulations. Because these changes are 

technical in nature, and do not affect 

FICUs in a substantive manner, the 

Board issues these technical 

amendments rules as final rules without 

notice and comment typically required 

by the Administrative Procedure Act 

(APA).1 The NCUA’s Office of General 

Counsel has identified a number of 

minor drafting errors and inaccurate 

citations and other technical problems 

throughout the NCUA’s regulations for 

correction. Accordingly, the Board is 

issuing this final rule to address those 

matters. 

II. Legal Authority 

The Board has the legal authority to 

issue this final rule pursuant to its 

plenary rulemaking authority under the 

Federal Credit Union Act (FCU Act) 2

and its specific rulemaking authority 

under the various acts the Board 

administers.3

III. Section-by-Section Analysis 

General Wording, Style, and CrossReference Changes 

The final rule makes general wording, 

style, and cross-reference changes 

throughout the NCUA’s regulations. For 

example, the final rule replaces the term 

‘‘federally-insured’’ with ‘‘federally 

insured’’ wherever it appears to promote 

uniformity. Technical amendments of 

this nature will apply throughout the 

NCUA’s regulations. Therefore, the 

preamble does not address these types 

of stylistic changes in the section-bysection analysis below. 

Section 700.2—Definitions 

The final rule amends the definitions 

listed in § 700.2 of the NCUA’s 

regulations. These definitions apply 

throughout chapter VII of title 12 of the 

Code of Federal Regulations ‘‘unless the 

context indicates otherwise.’’ 4

Specifically, the final rule revises the 

definition of ‘‘Act’’ to read ‘‘Federal 

Credit Union Act (12 U.S.C. 1751, et 

seq.).’’ The current definition, which 

reads ‘‘Federal Credit Union Act (73 

Stat. 628, 84 Stat. 944, 12 U.S.C. 1751 

through 1790),’’ is inaccurate because it 

fails to include Title III of the FCU Act.5

The revised citation ensures that the 

definition of ‘‘Act’’ covers the entire 

FCU Act. 

The final rule also replaces the term 

‘‘Administration’’ with ‘‘NCUA’’ to 

avoid confusion. The term 

‘‘Administration’’ only appears in 

§ 700.2 and one other section of the 

NCUA’s regulations. The final rule 

makes conforming amendments to the 

definitions of ‘‘Regional Director’’ and 

‘‘Regional Office.’’ 

1602 Federal Register / Vol. 84, No. 24 / Tuesday, February 5, 2019 / Rules and Regulations 

6See 12 U.S.C. 1752(6). 

7See 12 U.S.C. 1752(7). 

8See 12 CFR 701.6(a). 

9 ‘‘Chartering and Field of Membership Manual,’’ 

83 FR 30293 (June 28, 2018). 

10 ‘‘Chartering and Field of Membership Manual,’’ 

81 FR 88412 (Dec. 7, 2016). 

11 ‘‘Risk-Based Capital,’’ 80 FR 66626, 66722 (Oct. 

29, 2015). 

12 ‘‘Capital Planning and Supervisory Stress 

Testing,’’ 83 FR 17901 (Apr. 25, 2018). 

13See Securities Exchange Act Release No. 34– 

56145 (July 26, 2007), 72 FR 42169 (Aug. 1, 2007). 

14See ‘‘Fiduciary Duties at Federal Credit Unions; 

Mergers and Conversions of Insured Credit 

Unions,’’ 75 FR 81378 (Dec. 28, 2010) 

(redesignating sections 708a.1 through 708a.13 as 

sections 708a.101 through 708a.113 within Subpart 

A). 

15 15 U.S.C. 1681 et seq. 

16Public Law 111–203, tit. X, secs. 1061, 1088, 

124 Stat. 1376, 2035–2092 (July 21, 2010). 

17See ‘‘Fair Credit Reporting (Regulation V)’’ 76 

FR 79307 (Dec. 21, 2011). 

18 12 CFR 741.3(b)(5). 

19See ‘‘Supervisory Review Committee; 

Procedures for Appealing Material Supervisory 

Determinations,’’ 82 FR 50270 (Oct. 30, 2017). 

Moreover, the final rule amends the 

definition of ‘‘credit union’’ to conform 

to the definition in the FCU Act.6

Because several of the NCUA’s 

regulations refer to ‘‘federally insured 

credit unions,’’ ‘‘insured credit unions,’’ 

or otherwise reference the insured status 

of a credit union, the final rule adds 

definitions for ‘‘federally insured credit 

union’’ and ‘‘noninsured credit union’’ 

to clarify those terms where they are not 

separately defined in specific rules. 

These definitions mirror the definitions 

of those terms in the FCU Act.7

Finally, the final rule combines the 

definitions of ‘‘paid-in and unimpaired 

capital and surplus’’ and ‘‘unimpaired 

capital and surplus’’ to avoid repetition. 

Section 700.2 currently defines 

‘‘unimpaired capital and surplus’’ as 

‘‘the same as ‘paid-in and unimpaired 

capital and surplus,’ as defined in 

paragraph (f) of this section.’’ The final 

rule replaces these separate definitions 

with a single definition that reads 

‘‘paid-in and unimpaired capital and 

surplus or unimpaired capital and 

surplus.’’ 

Section 701.6—Fees Paid by Federal 

Credit Unions 

The final rule replaces references to 

‘‘the Administration’’ with ‘‘NCUA’’ in 

§ 701.6 and simplifies the regulatory 

text. This provision governs the 

assessment of operating fees on federal 

credit unions (FCUs) and the imposition 

of administrative fees and interest for 

delinquent payments.8 While the final 

rule modernizes the language of this 

section, the substantive requirements 

remain the same. 

Appendix B to Part 701—Chartering 

and Field of Membership Manual 

The final rule makes technical 

amendments to the Chartering and Field 

of Membership Manual (Chartering 

Manual). The Board recently issued two 

final rules related to FCU chartering and 

field of membership. The Board 

published a final rule in the Federal 

Register on December 7, 2016 (‘‘FOM I’’) 

that, in relevant part, expands the 

Chartering Manual’s definitions of 

‘‘well-defined local community’’ and 

‘‘rural district.’’ 9 The Board published a 

second rule in the Federal Register on 

June 28, 2018 (‘‘FOM II’’) that, in 

relevant part, adopts a narrative 

approach for FCUs seeking to expand or 

convert to a community charter.10

Both of these final rules contain 

typographical errors in the regulatory 

text including improperly labelled 

subheadings and extraneous 

punctuation. The final rule corrects 

those mistakes. Furthermore, the final 

rule reincorporates definitions from 

FOM I for a ‘‘well-defined local 

community’’ and ‘‘rural district,’’ which 

were inadvertently excluded from the 

regulatory text of the Chartering Manual 

when FOM II was published. 

Part 702—Capital Adequacy 

The final rule removes amendatory 

instruction 11 from the NCUA’s riskbased capital rule.11 That instruction 

directs the Federal Register to edit a 

section reference in § 702.504(b)(4) of 

the NCUA’s regulations. However, the 

Board recently removed § 702.504(b)(4) 

and redesignated paragraphs (b)(5) and 

(6) as (b)(4) and (5), respectively, as part 

of the capital planning and stress testing 

rule.12 Accordingly, there is no longer a 

corresponding section reference for the 

Federal Register to amend. To avoid an 

editorial note in § 702.504 highlighting 

this discrepancy, the final rule 

withdraws instruction 11. 

Sections 703.2 and 703.8—Investment 

and Deposit Activities 

The final rule makes technical 

amendments to §§ 703.2 and 703.8 of 

the NCUA’s regulations to recognize a 

change in nomenclature. On March 19, 

2007, the National Association of 

Securities Dealers, Inc. (NASD) 

consolidated with NYSE Regulation, 

Inc. to create the Financial Industry 

Regulatory Authority (FINRA), a selfregulatory organization charged with 

policing the conduct of broker-dealers 

under federal securities laws.13

Therefore, the final rule replaces 

references to ‘‘National Association of 

Securities Dealers’’ with ‘‘Financial 

Industry Regulatory Authority’’ and 

‘‘NASD’’ with ‘‘FINRA’’ wherever they 

appear. 

Part 708a—Bank Conversions and 

Mergers 

Part 708a contains the NCUA’s 

regulations governing the conversion of 

a FICU into a mutual savings bank and 

the merger of a FICU into a bank. This 

final rule updates cross-references in the 

rule to reflect the redesignation of 

sections that are now contained in 

Subpart A of the bank conversions and 

mergers rule.14

Part 717—Fair Credit Reporting 

The final rule removes and reserves 

several subparts and appendices to part 

717, the NCUA’s regulation 

implementing the Fair Credit Reporting 

Act (FCRA).15 Historically, the federal 

banking agencies, the NCUA, and the 

Federal Trade Commission shared 

rulemaking authority for various aspects 

of the FCRA. Title X of the Dodd-Frank 

Wall Street Reform and Consumer 

Protection Act (Dodd-Frank Act) 

transferred most rulemaking authority 

for the FCRA to the Bureau of Consumer 

Financial Protection (BCFP) effective 

July 21, 2011.16 The BCFP published a 

new Regulation V (Fair Credit 

Reporting), 12 CFR part 1022, on 

December 21, 2011, implementing those 

provisions of the FCRA.17 Therefore, the 

Board is removing all subparts and 

appendices to part 717 issued under 

rulemaking authority in the FCRA that 

the Dodd-Frank Act transferred to the 

BCFP. 

Part 741—Requirements for Insurance 

The final rule corrects an inaccurate 

cross-reference in § 741.3(b)(5) of the 

NCUA’s regulations.18 That provision 

directs stakeholders to Appendix B to 

part 741 for guidance on how to develop 

an interest rate risk (IRR) policy and an 

effective IRR program. The NCUA’s 

equity distribution rule eliminated 

Appendix A to part 741 and 

redesignated Appendix B as Appendix 

A. Accordingly, the Board is amending 

§ 741.3(b)(5) to include the correct 

cross-reference to current Appendix A 

to part 741 which contains the NCUA’s 

guidance on IRR policies. 

Part 746—Appeals Procedures 

The final rule also remedies an 

inadvertent drafting error in the NCUA’s 

supervisory review committee (SRC) 

rule.19 The SRC rule permits a FICU to 

appeal a material supervisory 

determination made by the NCUA to 

various appellate bodies within the 

agency. The SRC rule provides FICUs 

Federal Register / Vol. 84, No. 24 / Tuesday, February 5, 2019 / Rules and Regulations 1603 

20See 12 CFR 746.106(a). 

21See 12 CFR 790.1. 

22The Board previously amended part 792 to 

reflect other aspects of the reorganization plan 

including the creation of the Office of Credit Union 

Resources and Expansion and the elimination of the 

Office of Small Credit Union Initiatives. See 

‘‘Agency Reorganization,’’ 82 FR 60290 (Dec. 20, 

2017). 

23 5 U.S.C. 553(b). 

24 5 U.S.C. 553(b)(B). 

25 5 U.S.C. 553(d). 

26 5 U.S.C. 601–612. 

27 44 U.S.C 3501–3521. 

28 5 U.S.C. 801–808. 

29Public Law 105–277, 654, 112 Stat. 2681, 2681– 

528 (1998). 

30 ‘‘Federalism,’’ E.O. 13,132 (Aug. 10, 1999). 

with specific deadlines by which the 

credit union must file an appeal in order 

for the appellate body to hear an appeal. 

The SRC rule bases these deadlines on 

when the FICU receives notice of the 

material supervisory determination or 

the decision on appeal. Section 746.106, 

which governs appeal to the Director of 

the Office of Examination and Insurance 

(E&I), inadvertently establishes a 

deadline based on when the material 

supervisory determination was rendered 

by the NCUA rather than when it was 

received by the FICU.20 The final rule 

corrects this drafting error to clarify that 

the SRC rule bases the deadline to 

appeal to the Director of E&I on when 

the FICU receives the material 

supervisory determination not when the 

decision is rendered. 

Part 790—Description of NCUA; 

Requests for Agency Action 

Part 790 contains a description of the 

NCUA’s organization and the 

procedures for public requests for action 

by the Board.21 This part relates solely 

to the practices of the NCUA and does 

not apply to FICU operations. In July 

2017, the Board announced a plan to 

streamline and consolidate certain of 

the NCUA’s functions and offices in an 

effort to reduce the NCUA’s budget and 

increase efficiency. This plan includes 

the elimination of two NCUA Regional 

Offices effective December 31, 2018. 

The final rule amends part 790 to reflect 

the closure of those two offices as well 

as the creation of the Office of Business 

Innovation.22

IV. Regulatory Procedures 

Administrative Procedure Act 

Generally, the APA requires a federal 

agency to provide the public with notice 

and an opportunity to comment on 

agency rulemakings.23 The APA, 

however, creates an exception in cases 

where an agency for good cause 

determines ‘‘that notice and public 

procedure thereon are impracticable, 

unnecessary, or contrary to the public 

interest.’’ 24 Because all of the changes 

in this final rule involve only minor, 

technical amendments to the NCUA’s 

existing regulations, the Board has 

determined that notice and comment 

would be unnecessary and contrary to 

the public interest. 

Furthermore, the APA generally 

provides that a final rule may not 

become effective until at least 30 days 

after its publication in the Federal 

Register unless the agency determines 

that good cause exists to dispense with 

this requirement.25 As noted above, 

given that the rule does not impose new 

requirements on federally insured credit 

unions and only involves minor, 

technical amendments to existing 

regulations, the Board finds sufficient 

good cause exists to dispense with the 

30-day effective date requirement. The 

rule will, therefore, be effective 

immediately upon publication. 

Regulatory Flexibility Act 

The Regulatory Flexibility Act 

requires the NCUA to prepare an 

analysis of any significant economic 

impact a regulation may have on a 

substantial number of small entities 

(primarily those under $100 million in 

assets).26 This final rule will have no 

economic impact on small credit unions 

because it only makes minor, technical 

amendments to NCUA’s existing 

regulations. Accordingly, the NCUA 

certifies the rule will not have a 

significant economic impact on a 

substantial number of small credit 

unions. 

Paperwork Reduction Act 

The Paperwork Reduction Act of 1995 

(PRA) applies to rulemakings in which 

an agency by rule creates a new 

paperwork burden on regulated entities 

or increases an existing burden.27 For 

purposes of the PRA, a paperwork 

burden may take the form of a reporting 

or recordkeeping requirement, both 

referred to as information collections. 

As the final rule only makes minor, 

technical amendments to the NCUA’s 

existing regulations, we have 

determined it does not increase 

paperwork requirements under the PRA. 

Small Business Regulatory Enforcement 

Fairness Act 

The Small Business Regulatory 

Enforcement Fairness Act of 1996 

(SBREFA) provides generally for 

congressional review of agency rules.28

A reporting requirement is triggered in 

instances where the NCUA issues a final 

rule as defined by section 551 of the 

APA. As required by SBREFA, NCUA 

has submitted this rule to the Office of 

Management and Budget for it to 

determine if the final rule is a ‘‘major 

rule’’ for purposes of SBREFA. The 

NCUA does not believe the rule is 

major. 

Assessment of Federal Regulations and 

Policies on Families 

The NCUA has determined that this 

rule will not affect family well-being 

within the meaning of section 654 of the 

Treasury and General Government 

Appropriations Act.29

Executive Order 13132 

Executive Order 13132 encourages 

independent regulatory agencies to 

consider the impact of their actions on 

state and local interests.30 The NCUA, 

an independent regulatory agency as 

defined in 44 U.S.C. 3502(5), voluntarily 

complies with the executive order to 

adhere to fundamental federalism 

principles. The final rule does not have 

substantial direct effects on the states, 

on the relationship between the national 

government and the states, or on the 

distribution of power and 

responsibilities among the various 

levels of government. The NCUA has 

therefore determined that this final rule 

does not constitute a policy that has 

federalism implications for purposes of 

the executive order. 

List of Subjects 

12 CFR Part 700 

Credit unions. 

12 CFR Part 701 

Advertising, Aged, Civil rights, Credit, 

Credit unions, Fair housing, Individuals 

with disabilities, Insurance, Marital 

status discrimination, Mortgages, 

Religious discrimination, Reporting and 

recordkeeping requirements, Sex 

discrimination, Signs and symbols, 

Surety bonds. 

12 CFR Part 702 

Credit unions, Reporting and 

recordkeeping requirements. 

12 CFR Part 703 

Credit unions, Investments. 

12 CFR Part 704 

Credit unions, Reporting and 

recordkeeping requirements, Surety 

bonds. 

12 CFR Part 705 

Credit unions, Loans, Grants, 

Revolving fund, Community programs, 

Low income. 

1604 Federal Register / Vol. 84, No. 24 / Tuesday, February 5, 2019 / Rules and Regulations 

12 CFR Part 708a 

Credit unions, Reporting and 

recordkeeping requirements. 

12 CFR Part 708b 

Bank deposit insurance, Credit 

unions, Reporting and recordkeeping 

requirements. 

12 CFR Part 709 

Claims, Credit unions. 

12 CFR Part 710 

Administrative practice and 

procedure, Credit unions, Reporting and 

recordkeeping requirements. 

12 CFR Part 715 

Accounting, Credit unions, Reporting 

and recordkeeping requirements. 

12 CFR Part 717 

Consumer protection, Credit unions, 

Information, Privacy, Reporting and 

recordkeeping requirements. 

12 CFR Part 723 

Credit, Credit unions, Member 

business loans, Reporting and 

recordkeeping requirements. 

12 CFR Part 725 

Credit unions, Reporting and 

recordkeeping requirements. 

12 CFR Part 741 

Bank deposit insurance, Credit 

unions, Reporting and recordkeeping 

requirements. 

12 CFR Part 745 

Administrative practice and 

procedure, Claims, Credit unions, Share 

insurance. 

12 CFR Part 746 

Administrative practice and 

procedure, Claims, Credit unions, 

Investigations. 

12 CFR Part 747 

Administrative practice and 

procedure, Bank deposit insurance, 

Claims, Credit unions, Crime, Equal 

access to justice, Investigations, 

Lawyers, Penalties. 

12 CFR Part 748 

Credit unions, Reporting and 

recordkeeping requirements, Security 

measures. 

12 CFR Part 749 

Archives and records, Credit unions, 

Reporting and recordkeeping 

requirements. 

12 CFR Part 750 

Credit unions, Golden parachute 

payments, Indemnity payments. 

12 CFR Part 760 

Credit unions, Mortgages, Flood 

insurance, Reporting and recordkeeping 

requirements. 

12 CFR Part 790 

Organization and functions 

(Government agencies). 

12 CFR Part 791 

Administrative practice and 

procedure, Sunshine Act. 

12 CFR Part 792 

Classified information, Confidential 

business information, Courts, Freedom 

of information, Government employees, 

Privacy. 

By the National Credit Union 

Administration Board on December 13, 2018. 

Gerard S. Poliquin, 

Secretary of the Board. 

For the reasons discussed above, the 

Board is amending 12 CFR parts 700, 

701, 702, 703, 704, 705, 708a, 708b, 709, 

710, 715, 717, 723, 725, 741, 745, 746, 

747, 748, 749, 750, 760, 790, 791, and 

792 as follows: 

PART 700—DEFINITIONS 

■ 1. The authority citation for part 700 

continues to read as follows: 

Authority: 12 U.S.C. 1752, 1757(6), 1766. 

■ 2. In § 700.2: 

■ a. Revise the definitions of ‘‘Act,’’ 

‘‘Board,’’ and ‘‘Credit union’’; 

■ b. Add definitions for ‘‘Federally 

insured credit union,’’ ‘‘NCUA,’’ ‘‘and 

Noninsured credit union’’ in 

alphabetical order; and 

■ c. Revise the definitions of ‘‘Paid-in 

and unimpaired capital and surplus,’’ 

‘‘Regional Director,’’ and ‘‘Regional 

Office’’. 

The revisions and additions read as 

follows: 

§ 700.2 Definitions. 

* * * * * 

Act means the Federal Credit Union 

Act (12 U.S.C. 1751, et seq.). 

* * * * * 

Board or NCUA Board refer to the 

Board of the National Credit Union 

Administration. 

Credit union means a nonprofit 

financial cooperative chartered under 

the Federal Credit Union Act or under 

the laws of any State, the District of 

Columbia, the several territories and 

possessions of the United States, or the 

Commonwealth of Puerto Rico, which 

laws provide for the organization of 

financial cooperatives similar in 

principle and objectives to cooperatives 

chartered under the Federal Credit 

Union Act. 

Federally insured credit union means 

any credit union whose member 

accounts are insured by NCUA 

according to the provisions of Title II of 

the Federal Credit Union Act (12 U.S.C. 

1782 et seq.). 

* * * * * 

NCUA refers to the National Credit 

Union Administration. 

* * * * * 

Noninsured credit union means a 

credit union chartered under the laws of 

any State, the District of Columbia, the 

several territories and possessions of the 

United States, the Panama Canal Zone, 

or the Commonwealth of Puerto Rico, 

whose member accounts are not insured 

by NCUA. 

Paid-in and unimpaired capital and 

surplus or unimpaired capital and 

surplus mean shares plus post-closing, 

undivided earnings. This does not 

include regular reserves or special 

reserves required by law, regulation or 

special agreement between the credit 

union and its regulator or share insurer. 

‘‘Paid-in and unimpaired capital and 

surplus’’ for purposes of the Central 

Liquidity Facility is defined in 

§ 725.2(o) of this chapter. 

Regional Director means the 

representative of NCUA in the 

designated geographical area in which 

the office of the federally insured credit 

union is located or, for federally insured 

credit unions with $10 billion or more 

in assets, the Director of the Office of 

National Examinations and Supervision. 

Regional Office means the office of 

NCUA located in the designated 

geographical areas in which the office of 

the federally insured credit union is 

located or, for federally insured credit 

unions with $10 billion or more in 

assets, the Office of National 

Examinations and Supervision. 

* * * * * 

PART 701—ORGANIZATION AND 

OPERATION OF FEDERAL CREDIT 

UNIONS 

■ 3. The authority citation for part 701 

continues to read as follows: 

Authority: 12 U.S.C. 1752(5), 1755, 1756, 

1757, 1758, 1759, 1761a, 1761b, 1766, 1767, 

1782, 1784, 1786, 1787, 1789. Section 701.6 

is also authorized by 15 U.S.C. 3717. Section 

701.31 is also authorized by 15 U.S.C. 1601 

et seq.; 42 U.S.C. 1981 and 3601–3610. 

Section 701.35 is also authorized by 42 

U.S.C. 4311–4312. 

■ 4. Revise § 701.6(a) to read as follows: 

§ 701.6 Fees paid by federal credit unions. 

(a) Basis for assessment. Each 

calendar year, or as otherwise directed 

by the NCUA Board, each federal credit 

union shall pay an operating fee to 

Federal Register / Vol. 84, No. 24 / Tuesday, February 5, 2019 / Rules and Regulations 1605 

NCUA for the current fiscal year 

(January 1 to December 31) in 

accordance with a schedule fixed by the 

Board from time to time. The operating 

fee shall be based on the total assets of 

each federal credit union (less the assets 

created on the books of natural person 

federal credit unions by investments 

made in a corporate credit union under 

the Credit Union System Investment 

Program or the Credit Union 

Homeowners Affordability Relief 

Program) as of December 31 of the 

preceding year or as otherwise 

determined pursuant to paragraph (b) of 

this section. 

* * * * * 

§ 701.21 [Amended] 

■ 5. In § 701.21(h)(1), remove 

‘‘federally-insured’’ and add in its place 

‘‘federally insured’’. 

■ 6. In § 701.22, remove ‘‘Federally 

insured, state-chartered credit unions’’ 

and add in its place ‘‘Federally insured 

state-chartered credit unions’’ in the 

introductory text; and remove ‘‘federally 

insured, state-chartered credit union’’ 

and add in its place ‘‘federally insured 

state-chartered credit union’’ wherever 

it appears. 

§ 701.23 [Amended] 

■ 7. Amend § 701.23(b) by removing 

‘‘federally-insured’’ and adding in its 

place ‘‘federally insured’’ wherever it 

appears. 

■ 8. Amend Appendix B to part 701 as 

follows: 

■ a. Amend Section III of Chapter 1 by 

removing the bullet after ‘‘and’’ but 

before the sentence beginning with ‘‘The 

fact that the certificate is made’’. 

■ b. Amend Section IV.D of Chapter 1 

by removing the bullet after ‘‘Continuity 

plan for directors, committee members 

and management staff’’ but before the 

sentence beginning ‘‘Operating 

facilities’’. 

■ c. Amend Section V.B.1 of Chapter 1 

by removing the bullet after 

‘‘Organization Certificate, NCUA 4008’’ 

but before ‘‘Report of Official and 

Agreement to Serve, NCUA 4012’’. 

■ d. Revise the heading of Section V.B.5 

of Chapter 1 titled ‘‘Certification of 

Resolutions, NCUA 9501’’ to read 

‘‘V.B.6—Certification of Resolutions, 

NCUA 9501’’. 

■ e. Revise the heading of Section I.A. 

2 of Chapter 2 to read ‘‘I.A.2—Special 

Low-Income Rules’’. 

■ f. Amend Section II.A.1 of Chapter 2 

by removing the bullet after the 

sentence beginning with ‘‘Employees of 

Johnson Soap Company’’ but before the 

sentence beginning ‘‘Employees of 

MMLLJS contractor’’. 

■ g. Revise the heading of Section II.A.2 

of Chapter 2 to read ‘‘II.A.2—Trade, 

Industry, or Profession’’. 

■ h. Amend Section II.B.1 of Chapter 2 

by removing the bullet after ‘‘A single 

occupational common bond to a single 

associational common bond’’ but before 

‘‘A single occupational common bond to 

a community charter’’. 

■ i. Revise the heading of Section II.B of 

Chapter 2 titled ‘‘Restructuring’’ to read 

‘‘II.B.2—Restructuring’’. 

■ j. Revise the heading of Section II.B of 

Chapter 2 titled ‘‘Documentation 

Requirements’’ to read ‘‘II.B.4— 

Documentation Requirements’’. 

■ k. Revise the heading of Section II.D 

of Chapter 2 titled ‘‘Emergency 

Mergers’’ to read ‘‘II.D.2—Emergency 

Mergers’’. 

■ l. Amend newly designated Section 

II.D.2 by removing the bullet after 

‘‘Serious and persistent recordkeeping 

problems; or’’ but before ‘‘Serious and 

persistent operational concerns’’. 

■ m. Revise the heading of Section II.D 

of Chapter 2 titled ‘‘Purchase and 

Assumption (P&A)’’ to read ‘‘II.D.3— 

Purchase and Assumption (P&A)’’. 

■ n. Revise the heading of Section II.E 

of Chapter 2 titled ‘‘Organizational 

Restructuring’’ to read ‘‘II.E.2— 

Organizational Restructuring’’. 

■ o. Amend Section II.H of Chapter 2 by 

removing the bullet after ‘‘Members of 

the immediate family or household’’ but 

before the sentence beginning 

‘‘Honorably discharged veterans’’. 

■ p. Amend Section III.A.1.a of Chapter 

2 by removing the number ‘‘1.’’ after 

paragraph 2. but before paragraph 3. 

■ q. Revise the heading of Section 

III.A.1 of Chapter 2 titled ‘‘PreApproved Groups’’ to read ‘‘III.A.1.b— 

Pre-Approved Groups’’. 

■ r. Amend Section III.A.1 of Chapter 2 

titled ‘‘Pre-Approved Groups’’ by 

removing the number ‘‘(1)’’ after 

paragraph (4) but before paragraph (5). 

■ s. Amend Section III.A.1 of Chapter 2 

titled ‘‘Pre-Approved Groups’’ by 

redesiganting paragraphs (1) through 

(12) as 1. through 12. 

■ t. Amend Section III.A.3 of Chapter 2 

by removing the bullet after ‘‘Members 

of the Shalom Congregation in Chevy 

Chase, Maryland’’ but before the 

sentence beginning with ‘‘Regular 

members of the Corporate Executives 

Association’’. 

■ u. Revise the heading of Section III.B 

of Chapter 2 titled ‘‘Organizational 

Restructuring’’ to read ‘‘III.B.2— 

Organizational Restructuring’’. 

■ v. Revise the heading of Section III.B 

of Chapter 2 titled ‘‘Documentation 

Requirements’’ to read ‘‘III.B.4— 

Documentation Requirements’’. 

■ w. Revise the heading of Section 

III.C.C.2 of Chapter 2 to read ‘‘III.C.2— 

Office of Credit Union Resources and 

Expansion Director Decision’’. 

■ x. Revise the heading of Section III.D 

of Chapter 2 titled ‘‘Emergency 

Mergers’’ to read ‘‘III.D.2—Emergency 

Mergers’’. 

■ y. Revise the heading of Section III.D 

of Chapter 2 titled ‘‘Purchase and 

Assumption (P&A) to read ‘‘III.D.3— 

Purchase and Assumption (P&A)’’. 

■ z. Revise the heading of Section III.E 

of Chapter 2 titled ‘‘Organizational 

Restructuring’’ to read ‘‘III.E.2— 

Organizational Restructuring’’. 

■ aa. Amend Section III.H of Chapter 2 

by removing the bullet after ‘‘Members 

of the immediate family or household’’ 

but before the sentence beginning 

‘‘Honorably discharged veterans’’. 

■ bb. Revise the heading of Section IV.B 

of Chapter 2 titled ‘‘Documentation 

Requirements’’ to read ‘‘IV.B.3— 

Documentation Requirements’’. 

■ cc. Revise the heading of Section IV.B 

of Chapter 2 titled ‘‘Restructuring’’ to 

read ‘‘IV.B.4—Restructuring’’. 

■ dd. Amend Section IV.C.4 of Chapter 

2 by removing the bullet after ‘‘Specific 

reasons for the action’’ but before 

‘‘Options to consider, if appropriate, for 

gaining approval’’. 

■ ee. Revise the heading of Section IV.D 

of Chapter 2 titled ‘‘Voluntary Mergers’’ 

to read ‘‘IV.D.1—Voluntary Mergers’’. 

■ ff. Revise the heading of Section IV.D 

of Chapter 2 titled ‘‘Emergency 

Mergers’’ to read ‘‘IV.D.3—Emergency 

Mergers’’. 

■ gg. Revise the heading of Section IV.D 

of Chapter 2 titled ‘‘Purchase and 

Assumption (P&A)’’ to read ‘‘IV.D.4— 

Purchase and Assumption (P&A)’’. 

■ hh. Revise the heading of Section IV.E 

of Chapter 2 titled ‘‘Overlap Issues as a 

Result of Organizational Restructuring’’ 

to read ‘‘IV.E.2—Overlap Issues as a 

Result of Organizational Restructuring’’. 

■ ii. Revise section V.A.2 of Chapter 2. 

■ jj. Revise the heading of Section V.A 

of Chapter 2 titled ‘‘Business Plan 

Requirements for a Community Credit 

Union’’ to read ‘‘V.A.4—Business Plan 

Requirements for a Community Credit 

Union’’. 

■ kk. Revise the heading of Section V.A 

of Chapter 2 titled ‘‘Ample Community 

Fields of Membership’’ to read ‘‘V.A.7— 

Ample Community Fields of 

Membership’’. 

■ ll. Revise the heading of Section V.D 

of Chapter 2 titled ‘‘Mergers’’ to read 

‘‘V.D.1—Mergers’’. 

■ mm. Revise the heading of Section 

V.D of Chapter 2 titled ‘‘Emergency 

Mergers’’ to read ‘‘V.D.2—Emergency 

Mergers’’. 

■ nn. Revise the heading of Section V.D 

of Chapter 2 titled ‘‘Purchase and 

Assumption (P&A)’’ to read ‘‘V.D.3— 

Purchase and Assumption (P&A)’’. 

1606 Federal Register / Vol. 84, No. 24 / Tuesday, February 5, 2019 / Rules and Regulations 

■ oo. Revise the heading of Section V.E 

of Chapter 2 titled ‘‘Exclusionary 

Clauses’’ to read ‘‘V.E.2—Exclusionary 

Clauses’’. 

■ pp. Revise the heading of Section II.B 

of Chapter 3 to read ‘‘II.B—Special 

Programs’’. 

■ qq. Revise the heading of Section II.C 

of Chapter 3 to read ‘‘II.C—Low-Income 

Documentation’’. 

■ rr. Revise the heading of Section II.D 

of Chapter 3 to read ‘‘II.D—Third-Party 

Assistance’’. 

■ ss. Revise the heading of Section II.E 

of Chapter 3 to read ‘‘II.E—Special Rules 

for Low-Income Federal Credit Unions’’. 

■ tt. Revise Section III.A of Chapter 3 by 

removing ‘‘12’’ and adding in its place 

‘‘12 U.S.C. 1759(c)(2)’’ in the first 

paragraph and removing ‘‘U.S.C. 

1759(c)(2).’’ from the second paragraph. 

■ uu. Revise the heading of Section 

III.B.2 of Chapter 3 titled ‘‘Economic 

Distress Criteria’’ to read ‘‘III.B.2.a— 

Economic Distress Criteria’’. 

■ vv. Amend Section III.B.2 of Chapter 

3 titled ‘‘Economic Distress Criteria’’ by 

removing the bullet after ‘‘Other 

Criterion. Any other economic distress 

criterion the CDFI Fund may adopt in 

the future.’’ but before the sentence ‘‘Id. 

§ 1805.201(b)(3)(ii)(D)(1), (2)(ii) and (3) 

(2008).’’ 

■ ww. Revise the heading of Section 

II.C.4 of Chapter 4 to read ‘‘II.C.4— 

Notification’’. 

■ xx. Revise the heading of Section II.D 

of Chapter 4 titled ‘‘Application for a 

Federal Charter’’ to read ‘‘II.D.2— 

Application for a Federal Charter’’. 

■ yy. Revise the heading of Section II.E 

of Chapter 4 titled ‘‘Effective Date of 

Conversion’’ to read ‘‘II.E.1—Effective 

Date of Conversion’’. 

■ zz. Revise the heading of Section II.E 

of Chapter 4 titled ‘‘Reports to NCUA’’ 

to read ‘‘II.E.5—Reports to NCUA’’. 

■ aaa. Revise the heading of Section 

III.D.UA of Chapter 4 to read ‘‘III.D.5— 

Disapproval’’. 

The revision reads as follows: 

Appendix B to Part 701—Chartering 

and Field of Membership Manual 

* * * * * 

V.A.2—Definition of Well-Defined Local 

Community and Rural District 

In addition to the documentation 

requirements in Chapter 1 to charter a credit 

union, a community credit union applicant 

must provide additional documentation 

addressing the proposed area to be served 

and community service policies. 

An applicant has the burden of 

demonstrating to NCUA that the proposed 

community area meets the statutory 

requirements of being: (1) Well-defined, and 

(2) a local community or rural district. 

For an applicant seeking a community 

charter for an area with multiple political 

jurisdictions with a population of 2.5 million 

people or more, the Office of Credit Union 

Resources and Expansion (CURE) shall: (1) 

Publish a notice in the Federal Register 

seeking comment from interested parties 

about the proposed community and (2) 

conduct a public hearing about this 

application. 

‘‘Well-defined’’ means the proposed area 

has specific geographic boundaries. 

Geographic boundaries may include a city, 

township, county (single, multiple, or 

portions of a county) or a political 

equivalent, school districts, or a clearly 

identifiable neighborhood. 

The well-defined local community 

requirement is met if: 

• Single Political Jurisdiction—The area to 

be served is a recognized Single Political 

Jurisdiction, i.e., a city, county, or their 

political equivalent, or any single portion 

thereof. 

• Statistical Area—A statistical area is all 

or an individual portion of a Core-Based 

Statistical Area (CBSA) designated by the 

U.S. Census Bureau, including a 

Metropolitan Statistical Area. To meet the 

well-defined local community requirement, 

the CBSA or a portion thereof, must be 

contiguous and have a population of 2.5 

million or less people. An individual portion 

of a statistical area need not conform to 

internal boundaries within the area, such as 

metropolitan division boundaries within a 

Core-Based Statistical Area. 

• Compelling Evidence of Common 

Interests or Interaction—In lieu of a statistical 

area as defined above, this option is available 

when a credit union seeks to initially charter 

a community credit union; to expand an 

existing community; or to convert to a 

community charter. Under this option, the 

credit union must demonstrate that the areas 

in question are contiguous and further 

demonstrate a sufficient level of common 

interests or interaction among area residents 

to qualify the area as a local community. For 

that purpose, an applicant must submit for 

NCUA approval a narrative, supported by 

appropriate documentation, establishing that 

the area’s residents meet the requirements of 

a local community. 

To assist a credit union in developing its 

narrative, Appendix 6 of this Manual 

identifies criteria a narrative should address, 

and which NCUA will consider in deciding 

a credit union’s application to: initially 

charter a community credit union; to expand 

an existing community, including by an 

adjacent area addition; or to convert to a 

community charter. In any case, the credit 

union must demonstrate, through its business 

and marketing plans, its ability and 

commitment to serve the entire community 

for which it seeks NCUA approval. 

An area of any geographic size qualifies as 

a Rural District if: 

• The proposed district has well-defined, 

contiguous geographic boundaries; 

• The total population of the proposed 

district does not exceed 1,000,000. 

• Either more than 50% of the proposed 

district’s population resides in census blocks 

or other geographic units that are designated 

as rural by either the Consumer Financial 

Protection Bureau or the United States 

Census Bureau, OR the district has a 

population density of 100 persons or fewer 

per square mile; and 

• The boundaries of the well-defined rural 

district do not exceed the outer boundaries 

of the states that are immediately contiguous 

to the state in which the credit union 

maintains its headquarters (i.e., not to exceed 

the outer perimeter of the layer of states 

immediately surrounding the headquarters 

state). 

The common bond affinity groups that 

apply to well-defined local communities also 

apply to Rural Districts. 

The requirements in Chapter 2, Sections 

V.A.4 through V.G. also apply to a credit 

union that serves a rural district. 

* * * * * 

PART 702—CAPITAL ADEQUACY 

■ 9. The authority citation for part 702 

is revised to read as follows: 

Authority: 12 U.S.C. 1766(a), 1790d. 

■ 10. In part 702, revise all references to 

‘‘federally-insured’’ to read ‘‘federally 

insured’’. 

§ 702.504 [Amended] 

■ 11. In § 702.504(b)(4), revise the 

citation ‘‘§ 702.306(c)’’ to read 

‘‘§ 702.506(c)’’. 

PART 703—INVESTMENT AND 

DEPOSIT ACTIVITIES 

■ 12. The authority citation for part 703 

continues to read as follows: 

Authority: 12 U.S.C. 1757(7), 1757(8), 

1757(15). 

§ 703.2 [Amended] 

■ 13. In § 703.2, in the definition of 

‘‘Associated personnel,’’ remove 

‘‘National Association of Securities 

Dealers (NASD)’’ or ‘‘NASD’’ and add in 

their place ‘‘Financial Industry 

Regulatory Authority (FINRA)’’ or 

‘‘FINRA’’ wherever they appear. 

§ 703.8 [Amended] 

■ 14. In § 703.8(b)(2) remove ‘‘National 

Association of Securities Dealers’’ and 

add in its place ‘‘Financial Industry 

Regulatory Authority’’. 

PART 704—CORPORATE CREDIT 

UNIONS 

■ 15. The authority citation for part 704 

continues to read as follows: 

Authority: 12 U.S.C. 1766(a), 1781, 1789. 

§ 704.1 [Amended] 

■ 16. In § 704.1(a) remove ‘‘Non 

federally insured corporate credit 

unions’’ and add in its place 

‘‘Noninsured corporate credit unions’’. 

Federal Register / Vol. 84, No. 24 / Tuesday, February 5, 2019 / Rules and Regulations 1607 

PART 705—COMMUNITY 

DEVELOPMENT REVOLVING LOAN 

FUND ACCESS FOR CREDIT UNIONS 

■ 17. The authority citation for part 705 

continues to read as follows: 

Authority: 12 U.S.C. 1756, 1757(5)(D), and 

(7)(I), 1766, 1782, 1784, 1785 and 1786. 

■ 18. In part 705, revise all references to 

‘‘non-federally insured, state-chartered 

credit union’’ and ‘‘non-federally 

insured state-chartered credit union’’ to 

read ‘‘noninsured credit union’’. 

PART 708a—BANK CONVERSIONS 

AND MERGERS 

■ 19. The authority citation for part 

708a continues to read as follows: 

Authority: 12 U.S.C. 1766, 1785(b), and 

1785(c). 

■ 20. Amend § 708a.101 by revising the 

definitions of ‘‘Credit union,’’ ‘‘Federal 

banking agencies,’’ and ‘‘Mutual savings 

bank and savings association’’ to read as 

follows: 

§ 708a.101 Definitions. 

* * * * * 

Credit union has the same meaning as 

insured credit union in section 101 of 

the Federal Credit Union Act (12 U.S.C. 

1752). 

Federal banking agencies have the 

same meaning as in section 3 of the 

Federal Deposit Insurance Act (12 

U.S.C. 1813). 

* * * * * 

Mutual savings bank and savings 

association have the same meaning as in 

section 3 of the Federal Deposit 

Insurance Act (12 U.S.C. 1813). 

* * * * * 

§ 708a.104 [Amended] 

■ 22. Amend § 708a.104 as follows: 

■ a. In paragraph (a), remove ‘‘§ 708a.3’’ 

and add in its place ‘‘§ 708a.103’’; and 

■ b. In paragraph (f)(6), remove 

‘‘§ 708a.4(f)’’ and add in its place 

‘‘§ 708a.104(f)’’. 

§ 708a.105 [Amended] 

■ 23. Amend § 708a.105 as follows: 

■ a. In paragraph (a)(1), remove 

‘‘§§ 708a.3 and 708a.4’’ and add in its 

place ‘‘§§ 708a.103 and 708a.104’’. 

■ b. In paragraph (a)(3), remove 

‘‘§ 708a.5(a)’’ and add in its place 

‘‘§ 708a.105(a)’’. 

■ c. In paragraph (b), remove ‘‘§ 708a.6’’ 

and add in its place ‘‘§ 708a.106’’. 

§ 708a.106 [Amended] 

■ 24. In § 708a.106(b), remove 

‘‘§ 708a.3’’ and add in its place 

‘‘§ 708a.103’’. 

§ 708a.107 [Amended] 

■ 25. In § 708a.107(b), by remove 

‘‘§ 708a.5’’ and add in its place 

‘‘§ 708a.105’’. 

§ 708a.108 [Amended] 

■ 26. In § 708a.108(b), by remove 

‘‘§ 708a.7’’ and add in its place 

‘‘§ 708a.107’’ and remove ‘‘§ 708a.10’’ 

and add in its place ‘‘§ 708a.110.’’ 

§ 708a.110 [Amended] 

■ 27. Amend § 708a.110 as follows: 

■ a. In paragraph (a), remove ‘‘§ 708a.8’’ 

and add in its place ‘‘§ 708a.108’’ and 

remove ‘‘§ 708a.9’’ and add in its place 

‘‘§ 708a.109’’. 

■ b. In paragraph (b), remove ‘‘§ 708a.8’’ 

and add in its place ‘‘§ 708a.108’’. 

§ 708a.113 [Amended] 

■ 28. In § 708a.113(d)(3), remove 

‘‘§ 708a.12 of this part’’ and add in its 

place ‘‘§ 708a.112’’. 

§ 708a.305 [Amended] 

■ 29. Amend § 708a.305 as follows: 

■ a. In paragraph (c)(3), remove the 

phrase ‘‘because of’’ the second time it 

appears; and 

■ b. In paragraph (c)(4) remove ‘‘; and’’ 

and add in its place a period. 

§ 708a.312 [Amended] 

■ 30. In § 708a.312(a), revise ‘‘Federally 

insured State chartered credit unions’’ 

to read ‘‘Federally insured statechartered credit unions’’. 

PART 708b—MERGERS OF INSURED 

CREDIT UNIONS INTO OTHER CREDIT 

UNIONS; VOLUNTARY TERMINATION 

OR CONVERSION OF INSURED 

STATUS 

■ 31. The authority citation for part 

708b continues to read as follows: 

Authority: 12 U.S.C. 1752(7), 1766, 1785, 

1786, 1789. 

■ 32. Revise the heading of part 708b to 

read as set forth above. 

■ 33. In part 708b, revise all references 

to ‘‘federally-insured’’, ‘‘Federallyinsured’’, ‘‘nonfederally-insured’’, and 

‘‘Nonfederally-insured’’ to read 

‘‘federally insured’’, ‘‘Federally 

insured’’, ‘‘noninsured’’, and 

‘‘Nonfederally insured’’ respectively. 

■ 34. Amend § 708b.2 by adding 

introductory text to read as follows: 

§ 708b.2 Definitions. 

As used in this part: 

* * * * * 

Subpart C—[Amended] 

■ 35. Amend Subpart C of part 708b by 

revising all references to ‘‘$100,000’’ to 

read ‘‘$250,000’’ wherever they occur. 

§ 708b.303 [Amended] 

■ 36. In § 708b.303(c), remove the word 

‘‘and’’ and add in its place the word 

‘‘an’’ in the first sentence of Item 5 of 

the form Certification of Vote. 

PART 709—INVOLUNTARY 

LIQUIDATION OF FEDERAL CREDIT 

UNIONS AND ADJUDICATION OF 

CREDITOR CLAIMS INVOLVING 

FEDERALLY INSURED CREDIT 

UNIONS IN LIQUIDATION 

■ 37. The authority citation for part 709 

continues to read as follows: 

Authority: 12 U.S.C. 1757, 1766, 1767, 

1786(h), 1787, 1788, 1789, 1789a. 

■ 38. In part 709, revise all references to 

‘‘federally-insured’’ to read ‘‘federally 

insured’’. 

§ 709.4 [Amended] 

■ 39. In § 709.4(c)(10), remove ‘‘statechartered federally insured credit 

union’’ and add in its place ‘‘federally 

insured state-chartered credit union’’. 

PART 710—VOLUNTARY LIQUIDATION 

■ 40. The authority citation for part 710 

continues to read as follows: 

Authority: 12 U.S.C. 1766(a), 1786, and 

1787. 

■ 41. In part 710, revise all references to 

‘‘Federally insured state credit union’’ 

or ‘‘Federally insured state credit 

unions’’ to read ‘‘Federally insured 

state-chartered credit union’’ or 

‘‘Federally insured state-chartered credit 

unions’’, respectively. 

PART 715—SUPERVISORY 

COMMITTEE AUDITS AND 

VERIFICATIONS 

■ 42. The authority citation for part 715 

continues to read as follows: 

Authority: 12 U.S.C. 1761(b), 1761d, 

1782(a)(6). 

§ 715.4 [Amended] 

■ 43. In § 715.4(c), remove the phrase 

‘‘NCUA form’’ and add in its place the 

phrase ‘‘NCUA Form’’. 

§ 715.10 [Amended] 

■ 44. In § 715.10(a), remove the phrase 

‘‘National Credit Union Administration 

(‘‘NCUA’’)’’ and add in its place the 

term ‘‘NCUA’’. 

1608 Federal Register / Vol. 84, No. 24 / Tuesday, February 5, 2019 / Rules and Regulations 

PART 717—FAIR CREDIT REPORTING 

■ 45. The authority citation for part 717 

is revised to read as follows: 

Authority: 12 U.S.C. 1766(a), 1789; 15 

U.S.C. 1681m(e). 

Subpart A—[Removed and Reserved] 

■ 46. Remove and reserve subpart A, 

consisting of §§ 717.1 through 717.3. 

Subpart C—[Removed and Reserved] 

■ 47. Remove and reserve subpart C, 

consisting of §§ 717.20 through 717.28. 

Subpart D—[Removed and Reserved] 

■ 48. Remove and reserve subpart D, 

consisting of §§ 717.30 through 717.32. 

Subpart E—[Removed and Reserved] 

■ 49. Remove and reserve subpart E, 

consisting of §§ 717.40 through 717.43. 

Appendix C—[Removed and Reserved] 

■ 50. Remove and reserve Appendix C 

to part 717. 

PART 723—MEMBER BUSINESS 

LOANS; COMMERCIAL LENDING 

■ 51. The authority citation for part 723 

continues to read as follows: 

Authority: 12 U.S.C. 1756, 1757, 1757A, 

1766, 1785, 1789. 

■ 52. In part 723, revise all references to 

‘‘federally insured, state-chartered credit 

union’’ or ‘‘federally insured, statechartered credit unions’’ to read 

‘‘federally insured state-chartered credit 

union’’ or ‘‘federally insured statechartered credit unions’’, respectively. 

PART 725—NATIONAL CREDIT UNION 

ADMINISTRATION CENTRAL 

LIQUIDITY FACILITY 

■ 53. The authority citation for part 725 

is revised to read as follows: 

Authority: 12 U.S.C. 1795f(a)(2). 

■ 54. In part 725: 

■ a. Revise all references to ‘‘federallychartered’’ or ‘‘federally-insured’’ to 

read ‘‘federally chartered’’ and 

‘‘federally insured’’, respectively; and 

■ b. Revise all references to ‘‘central 

credit union’’ or ‘‘central credit unions’’ 

to read ‘‘corporate credit union’’ or 

‘‘corporate credit unions’’, respectively. 

§ 725.2 [Amended] 

■ 55. In § 725.2(h)(2), remove ‘‘or 

Federal Savings and Loan Insurance 

Corporation’’. 

§ 725.3 [Amended] 

■ 56. In § 725.3(a)(2), remove footnote 1. 

§ 725.4 [Amended] 

■ 57. In § 725.4, remove footnote 3 from 

paragraph (a)(2) and, in paragraph (f), 

add the word ‘‘or’’ between the words 

‘‘chartered’’ and ‘‘within’’. 

PART 741—REQUIREMENTS FOR 

INSURANCE 

■ 58. The authority citation for part 741 

continues to read as follows: 

Authority: 12 U.S.C. 1757, 1766(a), 1781– 

1790, and 1790d; 31 U.S.C. 3717. 

■ 59. In part 741: 

■ a. Revise all references to ‘‘federallyinsured’’ and ‘‘nonfederally-insured’’ to 

read ‘‘federally insured’’ and 

‘‘nonfederally insured’’ respectively; 

and 

■ b. Revise all references to ‘‘federally 

insured, state-chartered’’ or ‘‘federallyinsured state-chartered’’ to read 

‘‘federally insured state-chartered’’. 

§ 741.3 [Amended] 

■ 60. In § 741.3(b)(5), remove 

‘‘Appendix B’’ and add in its place 

‘‘Appendix A’’. 

■ 61. Revise § 741.8(c) to read as 

follows: 

§ 741.8 Purchase of assets and 

assumption of liabilities. 

* * * * * 

(c) A credit union seeking approval 

under paragraph (a) of this section must 

submit a request for approval to the 

appropriate regional director. The 

request must state the nature of the 

transaction and include copies of all 

relevant transaction documents. The 

regional director will approve or 

disapprove the request as soon as 

possible depending on the complexity 

of the proposed transaction. Credit 

unions should submit a request for 

approval in sufficient time to close the 

transaction. 

§ 741.201 [Amended] 

■ 62. In § 741.201(a), remove ‘‘part 713 

of this chapter’’ and add ‘‘§§ 713.3, 

713.5, and 713.6’’ in its place. 

§ 741.219 [Amended] 

■ 63. In § 741.219(b), remove the phrase 

‘‘or the Director of the Office of National 

Examinations and Supervision.’’ 

PART 745—SHARE INSURANCE AND 

APPENDIX 

■ 64. The authority citation for part 745 

continues to read as follows: 

Authority: 12 U.S.C. 1752(5), 1757, 1765, 

1766, 1781, 1782, 1787, 1789; title V, Pub. L. 

109–351; 120 Stat. 1966. 

■ 65. In part 745: 

■ a. Revise all references to ‘‘federallyinsured’’ to read ‘‘federally insured’’; 

and 

■ b. Revise all references to ‘‘state credit 

union’’ or ‘‘state credit unions’’ to read 

‘‘state-chartered credit union’’ or ‘‘statechartered credit unions’’, respectively. 

■ 66. Revise § 745.202(b) to read as 

follows: 

§ 745.202 Judicial review. 

* * * * * 

(b) Failure to file an appeal with 

regard to an initial determination, or a 

decision rendered on a request for 

reconsideration within the applicable 

time periods shall constitute a failure by 

the accountholder to exhaust available 

administrative remedies and, due to 

such failure, any objections to the initial 

determination or request for 

reconsideration shall be deemed to be 

waived and such determination shall be 

deemed to have been accepted by, and 

binding upon, the accountholder. 

* * * * * 

PART 746—APPEALS PROCEDURES 

Subpart A—Procedures for Appealing 

Material Supervisory Determinations 

■ 67. The authority citation for part 746, 

subpart A, continues to read as follows: 

Authority: 12 U.S.C. 1766, 1787, and 1789. 

■ 68. Revise § 746.106(a) to read as 

follows: 

§ 746.106 Procedures for requesting 

review by the Director of the Office of 

Examination and Insurance. 

(a) Request for review. Prior to filing 

an appeal with the Committee pursuant 

to § 746.107, but after receiving a 

written decision by the appropriate 

program office in response to a request 

for reconsideration pursuant to 

§ 746.105, an insured credit union may 

make a written request for review by the 

Director of the Office of Examination 

and Insurance of the program office’s 

material supervisory determination. 

Such a request must be made within 30 

calendar days after receiving a final 

decision on reconsideration from the 

appropriate program office. A request 

for review must be in writing and filed 

with the Secretary of the Board, 

National Credit Union Administration, 

1775 Duke Street, Alexandria, VA 

22314–3428. 

* * * * * 

Federal Register / Vol. 84, No. 24 / Tuesday, February 5, 2019 / Rules and Regulations 1609 

PART 747—ADMINISTRATIVE 

ACTIONS, ADJUDICATIVE HEARINGS, 

RULES OF PRACTICE AND 

PROCEDURE, AND INVESTIGATIONS 

■ 69. The authority citation for part 747 

continues to read as follows: 

Authority: 12 U.S.C. 1766, 1782, 1784, 

1785, 1786, 1787, 1790a, 1790d; 15 U.S.C. 

1639e; 42 U.S.C. 4012a; Pub. L. 101–410; 

Pub. L. 104–134; Pub. L. 109–351; Pub. L. 

114–74. 

■ 70. In part 747: 

■ a. Revise all references to ‘‘federallyinsured’’ to read ‘‘federally insured’’; 

and 

■ b. Revise all references to ‘‘state credit 

union’’ or ‘‘state credit unions’’ to read 

‘‘state-chartered credit union’’ or ‘‘statechartered credit unions’’, respectively. 

PART 748—SECURITY PROGRAM, 

REPORT OF SUSPECTED CRIMES, 

SUSPICIOUS TRANSACTIONS, 

CATASTROPHIC ACTS AND BANK 

SECRECY ACT COMPLIANCE 

■ 71. The authority citation for part 748 

continues to read as follows: 

Authority: 12 U.S.C. 1766(a), 1786(q); 15 

U.S.C. 6801–6809; 31 U.S.C. 5311 and 5318. 

■ 72. In part 748, revise all references to 

‘‘federally-insured’’ to read ‘‘federally 

insured’’. 

Appendix A to Part 748 [Amended] 

■ 73. Amend Appendix A by removing 

‘‘G. Implement the Standards’’ from the 

table of contents under section III. 

PART 749—RECORDS 

PRESERVATION PROGRAM AND 

APPENDICES—RECORD RETENTION 

GUIDELINES; CATASTROPHIC ACT 

PREPAREDNESS GUIDELINES 

■ 74. The authority citation for part 749 

continues to read as follows: 

Authority: 12 U.S.C. 1766, 1783 and 1789; 

15 U.S.C. 7001(d). 

■ 75. In part 749, revise all references to 

‘‘federally-insured’’ to read ‘‘federally 

insured’’. 

PART 750—GOLDEN PARACHUTE 

AND INDEMNIFICATION PAYMENTS 

■ 76. The authority citation for part 750 

continues to read as follows: 

Authority: 12 U.S.C. 1786(t). 

■ 77. In part 750, revise all references to 

‘‘Federally insured’’ to read ‘‘federally 

insured’’. 

PART 760—LOANS IN AREAS HAVING 

SPECIAL FLOOD HAZARDS 

■ 78. Revise the authority citation for 

part 760 to read as follows: 

Authority: 12 U.S.C. 1757, 1784(e), 1789; 

42 U.S.C. 4012a, 4104a, 4104b, 4106, and 

4128. 

PART 790—DESCRIPTION OF NCUA; 

REQUESTS FOR AGENCY ACTION 

■ 79. The authority citation for part 790 

continues to read as follows: 

Authority: 12 U.S.C. 1766, 1789, 1795f. 

■ 80. In § 790.2, add paragraph (b)(18) 

and revise paragraph (c) to read as 

follows: 

§ 790.2 Central and field office 

organization. 

* * * * * 

(b) * * * 

(18) The Office of Business 

Innovation. The Office of Business 

Innovation (OBI) serves as a central 

platform and facilitator for critical 

agency stakeholders to shape achievable 

solutions and capabilities to manage 

evolving business demands. This office 

manages the agency’s Information 

Technology modernization and business 

process optimization efforts, from the 

internal and external business 

stakeholder perspective, of mission 

related systems that enable the NCUA’s 

core mission of regulating and 

supervising credit unions. Additionally, 

OBI provides enterprise information 

security support in partnership with the 

Office of the Chief Information Officer 

(OCIO) and serves as a center point for 

enterprise data strategy and governance. 

* * * * * 

(c) Field Offices. NCUA’s programs 

are conducted through Regional Offices 

and the Office of National Examinations 

and Supervision. 

(1) Regional Offices. (i) The NCUA 

has three Regional Offices: 

Region name Area within region Office address 

Eastern ........................ Connecticut, Delaware, District of Columbia, Maine, Maryland, Massachusetts, Michigan, New Hampshire, New 

Jersey, New York, Ohio, Pennsylvania, Rhode Island, 

Vermont, Virginia, and West Virginia.

1900 Duke Street, Suite 300, Alexandria, VA 22314–3498. 

Southern ...................... Alabama, Arkansas, Florida, Georgia, Indiana, Kentucky, 

Louisiana, Mississippi, North Carolina, Oklahoma, Puerto Rico, South Carolina, Tennessee, Texas, and Virgin 

Islands.

4807 Spicewood Springs Road, Suite 5200, Austin, TX 

78759–8490. 

Western ....................... Alaska, American Samoa, Arizona, California, Colorado, 

Guam, Idaho, Illinois, Iowa, Kansas, Minnesota, Missouri, Montana, Nebraska, Nevada, New Mexico, North 

Dakota, Oregon, South Dakota, Nevada, Utah, Washington, Wisconsin, and Wyoming.

1230 West Washington Street, Suite 301, Tempe, AZ 

85281. 

(ii) A Regional Director is in charge of 

each Regional Office. The Regional 

Director manages NCUA’s programs in 

the Region assigned in accordance with 

established policies. A Regional 

Director’s duties include: Directing 

examination and supervision programs 

to promote and assure safety and 

soundness; assisting other offices in 

chartering and insurance issues; 

managing regional resources to meet 

program objectives in the most 

economical and practical manner; and 

maintaining good public relations with 

public, private, and governmental 

organizations, federal credit union 

officials, credit union organizations, and 

other groups which have an interest in 

credit union matters in the assigned 

region. The Regional Director maintains 

liaison and cooperation with other 

regional offices of federal departments 

and agencies, state agencies, city and 

county officials, and other governmental 

units that affect credit unions. The 

Regional Director is aided by Associate 

Regional Directors. Each region is 

divided into examiner districts, each 

assigned to a Supervisory Credit Union 

Examiner; groups of examiners are 

directed by a Supervisory Credit Union 

Examiner, each of whom in turn reports 

directly to one of the Associate Regional 

Directors. 

(2) Office of National Examinations 

and Supervision. Similar to a Regional 

Director, the Director of the Office of 

National Examinations and Supervision 

manages NCUA’s supervisory program 

1610 Federal Register / Vol. 84, No. 24 / Tuesday, February 5, 2019 / Rules and Regulations 

over credit unions; however, it oversees 

the activities for corporate credit unions 

and of natural person credit unions with 

assets totaling $10 billion or more, in 

accordance with established policies. 

The Director’s duties include directing 

insurance, examination, and 

supervision programs to promote and 

assure safety and soundness; managing 

office resources to meet program 

objectives in the most economical and 

practical manner; and maintaining good 

public relations with public, private and 

governmental organizations, credit 

union officials, credit union 

organizations, and other groups which 

have an interest in credit union matters 

in the assigned office. The Director 

maintains liaison and cooperation with 

other regional offices of federal 

departments and agencies, state 

agencies, and other governmental units 

that affect credit unions. The Director is 

aided by a Deputy Director. Staff 

working in the office report to the 

Director of Supervision, who in turn 

reports to the Deputy Director. Field 

staff is divided into examiner districts, 

each assigned to a National Field 

Supervisor, each of whom in turn 

reports directly to the Deputy Director. 

PART 791—RULES OF NCUA BOARD 

PROCEDURE; PROMULGATION OF 

NCUA RULES AND REGULATIONS; 

PUBLIC OBSERVATION OF NCUA 

BOARD MEETINGS 

■ 81. The authority citation for part 791 

continues to read as follows: 

Authority: 12 U.S.C. 1766, 1789 and 5 

U.S.C. 552b. 

§ 791.8 [Amended] 

■ 82. In § 791.8(b)(4), revise ‘‘statechartered federally-insured credit 

union’’ to read ‘‘federally insured statechartered credit union’’. 

PART 792—REQUESTS FOR 

INFORMATION UNDER THE FREEDOM 

OF INFORMATION ACT AND PRIVACY 

ACT, AND BY SUBPOENA; SECURITY 

PROCEDURES FOR CLASSIFIED 

INFORMATION 

■ 83. The authority citation for part 792 

continues to read as follows: 

Authority: 12 U.S.C. 1766, 1789 and 5 

U.S.C. 552b. 

§ 792.30 [Amended] 

■ 84. In § 792.30, revise ‘‘federallyinsured’’ to read ‘‘federally insured’’. 

[FR Doc. 2018–27472 Filed 2–4–19; 8:45 am] 

BILLING CODE 7535–01–P 

ENVIRONMENTAL PROTECTION 

AGENCY 

40 CFR Part 52 

[EPA–R08–OAR–2018–0616; FRL–9988–35– 

Region 8] 

Approval and Promulgation of 

Implementation Plans; North Dakota; 

Revisions to Infrastructure 

Requirements for All National Ambient 

Air Quality Standards; Carbon 

Monoxide (CO); Lead (Pb); Nitrogen 

Dioxide (NO2); Ozone (O3); Particle 

Pollution (PM2.5, PM10); Sulfur Dioxide 

(SO2); Recodification 

AGENCY: Environmental Protection 

Agency (EPA). 

ACTION: Final rule. 

SUMMARY: The Environmental Protection 

Agency (EPA) is approving revisions to 

the North Dakota State Implementation 

Plan (SIP) for all National Ambient Air 

Quality Standards (NAAQS) for the 

purposes of transferring authority from 

the North Dakota Department of Health 

(NDDH) to the North Dakota Department 

of Environmental Quality (NDDEQ). We 

are approving the related recodification 

of the portions of North Dakota’s Air 

Pollution Rules that have been 

previously approved into the SIP. The 

EPA is taking this action pursuant to 

section 110 of the Clean Air Act (CAA). 

DATES: This rule is effective on March 

15, 2019. 

ADDRESSES: The EPA has established a 

docket for this action under Docket ID 

No. EPA–R08–OAR–2018–0616. All 

documents in the docket are listed on 

the http://www.regulations.gov website. 

Although listed in the index, some 

information is not publicly available, 

e.g., CBI or other information whose 

disclosure is restricted by statute. 

Certain other material, such as 

copyrighted material, is not placed on 

the internet and will be publicly 

available only in hard copy form. 

Publicly available docket materials are 

available through http://

www.regulations.gov, or please contact 

the person identified in the FOR FURTHER

INFORMATION CONTACT section for 

additional availability information. 

FOR FURTHER INFORMATION CONTACT: Kate 

Gregory, Air Program, EPA, Region 8, 

Mailcode 8P–AR, 1595 Wynkoop Street, 

Denver, Colorado 80202–1129, (303) 

312–6175, gregory.kate@epa.gov. 

SUPPLEMENTARY INFORMATION: 

Throughout this document ‘‘we,’’ ‘‘us,’’ 

and ‘‘our’’ means the EPA. 

I. Background 

The background for this action is 

discussed in detail in our October 10, 

2018 proposal (83 FR 50865). In that 

document we proposed to approve 

revisions to the North Dakota SIP for all 

NAAQS for the purposes of transferring 

authority from the NDDH to the 

NDDEQ. We also proposed to approve 

the related recodification of the portions 

of North Dakota’s Air Pollution Rules 

that have been previously approved into 

the SIP. 

Table 1 shows the North Dakota air 

pollution rules that have been 

recodified in the North Dakota 

Administrative Code (NDAC) and 

indicates their old and new references 

in the SIP. 

TABLE 1—NDAC REFERENCES: PRE/ 

POST RECODIFICATION

Old reference New reference 

33–15–01 33.1–15–01 

33–15–02 33.1–15–02 

33–15–03 33.1–15–03 

33–15–04 33.1–15–04 

33–15–05 33.1–15–05 

33–15–06 33.1–15–06 

33–15–07 33.1–15–07 

33–15–08 33.1–15–08 

33–15–10 33.1–15–10 

33–15–11 33.1–15–11 

33–15–14 33.1–15–14 

33–15–15 33.1–15–15 

33–15–17 33.1–15–17 

33–15–18 33.1–15–18 

33–15–19 33.1–15–19 

33–15–20 33.1–15–20 

33–15–23 33.1–15–23 

33–15–25 33.1–15–25 

We received no comments on our 

proposal and this rule will be finalized 

as proposed without revisions. 

II. Final Action 

We are approving the August 18, 2018 

revisions to the North Dakota 

infrastructure SIP, for all NAAQS, for 

the purposes of the transfer of authority 

from NDDH to the NDDEQ. We are also 

approving the corresponding 

recodification of the entire SIP. For the 

basis of our approval, please refer to the 

October 10, 2018 proposal (83 FR 

50865). 

All revisions to the SIP program will 

be federally enforceable as of the 

effective date of today’s approval of the 

respective revision and recodification of 

that program. Based on the process 

outlined in our proposal and our 

subsequent conversations with the 

State, we have determined that our 

approval of the SIP program should 

become fully effective under federal law 

on March 15, 2019. The State plans to 

rely on the date when the EPA signs the 

final notice for purposes of notifying the 

state legislature that the EPA has 

approved these revisions, which will