Federal Consumer Financial Protection Guide

National Credit Union Administration

The National Credit Union Administration is the independent federal agency created by the U.S. Congress to regulate, charter and supervise federal credit unions. The agency’s mission is to provide, through regulation and supervision, a safe and sound credit union system, which promotes confidence in the national system of cooperative credit. It protects credit unions and the consumers who own them through effective supervision, regulation and insurance. With the backing of the full faith and credit of the United States, NCUA administers the National Credit Union Share Insurance Fund, which provides up to $250,000 of federal share insurance to millions of account holders in all federal credit unions and the overwhelming majority of state-chartered credit unions.

Purpose of Guide

This guidance is provided as a resource to help you comply with statutory and regulatory compliance. It includes NCUA and interagency examination procedures. The guidance is intended for use by a credit union’s board of directors and management, compliance officers, and others having responsibility for compliance as part of their duties. While it covers most federal consumer protection laws and regulations that affect credit unions, it does not address all federal laws or any state laws.

Each regulation guidance is divided into 5 sections:

  • Overview
  • Definitions
  • Associated Risks
  • Examination Objectives
  • Examination Procedures
  • Checklist *

* The checklists can be used to test compliance with the various laws and regulations, or as a starting point in developing a policy for compliance with the various regulations. The questions are written so that a “yes” answer indicates compliance with the regulation, and a “no” answer indicates a potential problem area.