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Fidelity Bonds

NCUA · final-rule · Published 2019-07-24 · Effective 2019-10-22 · 84 FR 35517

Document

Document number
2019-15709
Federal Register citation
84 FR 35517
CFR reference
12 CFR 704
Type
Rule
Action
Final rule.
Category
final-rule
Agency
US National Credit Union Administration
Publication date
2019-07-24
Effective date
2019-10-22

Abstract

The NCUA Board (Board) is finalizing a rule that amends its regulations regarding fidelity bonds for corporate credit unions and natural person credit unions. The rule strengthens a board of directors' oversight of a federally insured credit union's (FICU) fidelity bond coverage; ensures an adequate period to discover and file fidelity bond claims following a FICU's liquidation; codifies a 2017 NCUA Office of General Counsel legal opinion that permits a natural person credit union's fidelity bond to include coverage for certain credit union service organizations (CUSOs); and addresses Board approval of bond forms.

Source

Authoritative
Federal Register document
Machine
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