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NCUA Rescinds Most COVID-19 Guidance

Michael Christians • June 25, 2023

On June 22^nd, the National Credit Union Administration (NCUA) announced that in conjunction with the federal government ending the COVID-19 public health emergency in April, it is rescinding much of its pandemic-related guidance.

Some of that guidance (now inactive) includes, but is not limited to:

A federal credit union's ability to conduct its annual meeting virtually (21-FCU-06)
Flexibility regarding the mortgage service rules under Regulation X. This joint agency statement, issued in April 2020, allowed institutions to provide a CARES Act forbearance based on an incomplete application for loss mitigation assistance and waived the specific timing requirements for early intervention and annual escrow account statements; and
The NCUA's offsite examination and supervision approach (20-CU-17).

A complete list is available on the NCUA's website here.

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