NCUA official seal. Credit/NCUA
The NCUA announced it is soliciting public comment again on two final rules that have not yet taken effect, in accordance with the Trump Administration’s Jan. 20 memorandum titled “Regulatory Freeze Pending Review.”
Published Wednesday in the Federal Register, the rules in question, “Simplification of Share Insurance” and “Succession Planning”, were finalized in 2024 but are not scheduled to take full effect until December 2026 and January 2026, respectively. Comments on both rules are due by June 23, 2025.
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The share insurance rule would consolidate revocable and irrevocable trust accounts into a single “trust accounts” category and offer uniform treatment for mortgage-servicing accounts. America’s Credit Unions said it supports the simplification, noting it "increases flexibility for NCUA to consider various records in determining share insurance coverage in liquidations."
However, the succession planning rule has drawn more scrutiny. It requires federally insured credit unions to develop strategies for identifying and training potential successors for key leadership positions. America’s Credit Unions raised concerns during the rulemaking process, urging the agency to clarify expectations for board involvement, examiner discretion and confidentiality protections.
“The succession planning rule still requires the plan to address a federally insured credit union’s strategy for recruiting candidates with the potential to assume certain covered positions,” America’s Credit Unions said, noting the need for additional clarity on enforcement and compliance.
The NCUA Board approved the succession planning rule with a 3-0 vote during its last meeting of 2024 in December.
The White House memorandum encouraged agencies to pause or reevaluate rules not yet effective to ensure alignment with current policy priorities and public input. The NCUA emphasized that the 60-day comment period will allow stakeholders to weigh in on legal, factual and policy implications of the two rules.
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Michael Ogden
Editor-in-Chief at CU Times. To connect, email at [email protected]. As Editor-in-Chief of CU Times since 2016, Michael Ogden has led the editorial team in all aspects of content strategy and execution, including the creation of the publication’s exclusive and proprietary research database of the credit union industry’s economic landscape. Under Michael’s leadership, CU Times has successfully shifted to an all-digital editorial product with new focuses on the payments, fraud, lending and regulatory beats. Most recently, he introduced a data-focused editorial product for subscribers that breaks down credit union issues into hard data, allowing for a deeper and more factual narrative for readers. In 2024, he launched the "Shared Accounts With CU Times" podcast, which offers a fresh, inside-the-newsroom perspective through interviews with leaders from the credit union industry and the regulatory world. He dives into pressing credit union issues, while revealing the personalities working behind-the-scenes to push the credit union world forward. His background includes years as a radio and TV anchor/reporter and a public relations and digital/social media manager, where he covered the food and music industries, as well as cooperatives and credit unions. Over the years, he has launched numerous exclusive video and podcast series, including a successful series of interactive backstage interviews with musicians at music festivals, showcasing his social media and live streaming production skills.
