Regulatory Report
Regulatory Report
  • The Fed
  • FDIC
  • OCC
  • NCUA
  • CFPB
  • Other
What's up
  • [ September 8, 2026 ] Cannabis businesses still having trouble obtaining banking services, report finds Other
  • [ September 4, 2026 ] Targeting order for currency transaction reporting by MSBs along Southwest Border renewed Other
  • [ September 4, 2026 ] FinCEN issues alert, seeks FI vigilance against digital asset investment scams Other
  • [ September 4, 2026 ] Economic activity rose in August, but ‘heightened uncertainty’ linked to energy prices, Iran war persists The Fed
  • [ September 3, 2026 ] Public banks’ annual financial disclosures should be reviewed by SEC, GAO decides; SEC says ‘not it’ FDIC
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

  • New FAQs focus on permissible use of state-issued mobile drivers’ licenses for customer ID verification

    September 8, 2026 0
    Financial institutions may use state-issued mobile driver’s licenses (mDLs) and other government-issued digital credentials for ID verification under the Bank Secrecy Act (BSA)/anti-money laundering (AML) customer ID program (CIP) rule, federal regulators said Tuesday. Treasury’s Financial Crimes Enforcement Network (FinCEN) [...]
  • Cannabis businesses still having trouble obtaining banking services, report finds

    September 8, 2026 0
    Banks still hesitate to provide services to cannabis businesses due to legal issues and costs, according to a report issued Tuesday by the congressional watchdog. And, according to the Government Accountability Office (GAO), although more banks have started serving the [...]
  • Targeting order for currency transaction reporting by MSBs along Southwest Border renewed

    September 4, 2026 0
    A geographic targeting order (GTO) requiring money services businesses (MSBs) along the Southwest Border to file additional currency transaction reports (CTRs) was renewed and accompanied by updates to frequently asked questions. The order, issued by Treasury’s Financial Crimes Enforcement Network [...]
  • 2 banks rated ‘needs to improve,’ 2 ‘outstanding’ in FDIC’s latest CRA ratings list

    September 4, 2026 0
    Of the 37 banks that received evaluation ratings under the anti-redlining Community Reinvestment Act (CRA) in June, two were rated “needs to improve” and two were deemed “outstanding,” their federal regulator said. The Federal Deposit Insurance Corp. (FDIC) list shows [...]
  • FinCEN issues alert, seeks FI vigilance against digital asset investment scams

    September 4, 2026 0
    Financial institutions are urged to be vigilant against digital asset investment scams perpetrated by overseas scam centers in a recent alert from Treasury’s financial crimes enforcement arm. The Financial Crimes Enforcement Network (FinCEN), in a release Thursday, pointed to a [...]
  • Economic activity rose in August, but ‘heightened uncertainty’ linked to energy prices, Iran war persists

    September 4, 2026 0
    Economic activity increased, slightly to moderately, in 10 to 12 Federal Reserve districts since early July through August, the agency said Wednesday in its latest semi-monthly report on economic conditions. However, the Beige Book also noted, although the general economic [...]

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