12 CFR 742.8 - If I lose my RegFlex authority, will my past actions be grandfathered?

Code of Federal Regulations - Title 12: Banks and Banking

Updated to: January 01, 2006

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Title 12: Banks and Banking

CHAPTER VII: NATIONAL CREDIT UNION ADMINISTRATION

SUBCHAPTER A: REGULATIONS AFFECTING CREDIT UNIONS

PART 742: REGULATORY FLEXIBILITY PROGRAM

742.8 - If I lose my RegFlex authority, will my past actions be grandfathered

Any action by the credit union under the RegFlex authority will be grandfathered. Any actions subsequent to losing the RegFlex authority must meet NCUA's regulatory requirements. This does not diminish NCUA's authority to require a credit union to divest its investments or assets for substantive safety and soundness reasons.