# Prompt Corrective Action
> **US National Credit Union Administration** · Final rule. · Published 2002-11-29 · Effective 2003-01-01 · 67 FR 71078
## Document
- **Document number:** 02-30091
- **Category:** final-rule
- **Agency:** US National Credit Union Administration
- **Federal Register citation:** 67 FR 71078
- **CFR reference:** 12 CFR 702
- **Publication date:** 2002-11-29
- **Effective date:** 2003-01-01
## Abstract

Pursuant to Congressional mandate, the National Credit Union Administration (NCUA) adopted a comprehensive system of prompt corrective action consisting of minimum capital standards and corresponding remedies to restore the net worth of federally-insured credit unions. After six quarters of implementation, the NCUA Board issued a proposed rule consisting of revisions and adjustments intended to improve and simplify the system of prompt corrective action. As revised to reflect public comments, the NCUA Board now issues a final rule incorporating these improvements.

## Source
- [Federal Register document](https://www.federalregister.gov/documents/2002/11/29/02-30091/prompt-corrective-action)
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