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NCUA: Credit Union Bylaws

ABA Contact: John Rasmus, 202-663-5333, Alison Touhey, 663-5034
Published: 69 Federal Register 58203, September 29, 2004
Comments Due: November 29, 2004
Disposition: Filed

In its proposal, NCUA recommended several modifications to its existing Federal Credit Union Bylaws and sought comment on updating, clarifying and simplifying the Bylaws. In addition, it sought comment on improvements in corporate governance especially relating to the application of the Sarbanes-Oxley Act of 2002 to credit unions.

In its comment letter, ABA suggested various applications of Sarbanes-Oxley to credit unions in order to create parity with banks. Also, ABA recommended various Bylaw modifications and disclosure enhancements that would provide more credit union transparency.

2004 Regulations Chart
Federal Register
Comment Letter

​Questions? Please contact John Rasmus for more information.