Regulatory Report
Regulatory Report
  • The Fed
  • FDIC
  • OCC
  • NCUA
  • CFPB
  • Other
What's up
  • [ June 15, 2026 ] Credit union regulator loosens rules on records preservation requirements NCUA
  • [ June 15, 2026 ] FinCEN updates guidance on banks’ USA PATRIOT Act info sharing with others Other
  • [ June 12, 2026 ] Nearly $400 million in illegal transactions through cryptocurrency money-laundering service leads to arrests of two FDIC
  • [ June 11, 2026 ] Rule finalizes data standards for information collected by agencies under 2022 law CFPB
  • [ June 11, 2026 ] Weekly, quarterly reporting forms proposed for payment stablecoin issuers under OCC authority OCC
HomeFederal financial regulationNCUAProposal would qualify veterans organizations for federal credit unions’ charitable giving via CDAs

Proposal would qualify veterans organizations for federal credit unions’ charitable giving via CDAs

May 25, 2023 NCUA 0

Federal credit unions would be authorized to contribute to qualified war veterans organizations through the use of charitable donation accounts (CDAs) under proposed rule issued Thursday by the National Credit Union Administration (NCUA) Board.

The proposed rule would revise Part 721 of the agency’s rules and regulations, which cover federal credit union incidental powers, to define war veterans organizations as “qualified” entities that could receive the contributions through a CDA. With this proposed rule, the agency board, to ensure the authority only focuses on organization that are both non-profit and charitable, would limit the use of CDA funds to making charitable contributions or donations to organizations that are both non-profit and charitable in nature. To that end, this proposed rule focuses on “veterans’ organizations” as defined by section 501(c)(19) of the Internal Revenue Code.

Such organizations, among other things, must be organized in the United States or any of its possessions; and at least 75% of its members must be past or present members of the United States Armed Forces, the proposal states. It adds that at least 97.5% of such organizations’ members must be:

  • present or former members of the United States Armed Forces,
  • cadets (including only students in college or university ROTC programs or at Armed Services academies), or
  • spouses, widows, widowers, ancestors, or lineal descendants of individuals referred to in the first or second bullet.

The proposed rule also explains what a qualified group’s purpose may be and lists additional qualifications for an auxiliary unit or society of a veterans’ post or organization, or a trust or foundation for a veterans’ post or organization.

It provides that “no part of its net earnings may inure to the benefit of any private shareholder or individual.”

The agency is also seeking input on what other types of entities should be included within the “qualified charity” provision of the CDA rule.

Comments will be due 60 days after the proposal is published in the Federal Register.

NCUA Board Approves Proposal to Include Veterans Organizations in Charitable Donation Accounts

Draft Federal Register notice

Related

Today

  • Credit union regulator loosens rules on records preservation requirements

    June 15, 2026 0
    Guidance on records preservation for credit unions concerning the length of time credit unions should retain various types of operational records was removed from the federal regulator’s regulations under a final rule adopted Monday. According to the one-man board of [...]
  • FinCEN updates guidance on banks’ USA PATRIOT Act info sharing with others

    June 15, 2026 0
    Updated guidance on how financial institutions are permitted to share information with each other regarding suspected fraud was issued by Treasury’s financial crimes enforcement arm under the USA PATRIOT Act. The Financial Crimes Enforcement Network (FinCEN) on Friday released a [...]
  • Nearly $400 million in illegal transactions through cryptocurrency money-laundering service leads to arrests of two

    June 12, 2026 0
    More than $389 million in unlawful transactions allegedly conducted in a cryptocurrency money laundering service has led to the June 10 arrests of two Republic of Georgia residents, the inspector general for the federal bank deposit insurance agency said Friday. [...]

Resources

  • About
  • Get our daily reports
    • Registration
  • Password Reset
  • Reg lookup
  • Profile

Follow @editorregreport

  • The Fed
  • FDIC
  • OCC
  • NCUA
  • CFPB
  • Other

Copyright (c) 2022, RegReport.info; Contact: editor@regreport.info