NCUA issues final rule, prohibition notice to end 2023 

The NCUA, along with the FDIC, Office of the Comptroller of the Currency (OCC), and Federal Reserve issued a final rule last week that amends the Uniform Rules of Practice and Procedure. The rule alters regulations “to recognize the use of electronic communications in all aspects of administrative hearings and to otherwise increase the efficiency and fairness of administrative adjudications.” The rule goes into effect April 1. 

Additionally, the NCUA issued a prohibition notice Dec. 29, banning Andrea Alice Nedow from ever working for a federally insured depository institution. Nedow was charged with two felony counts of embezzlement and pleaded guilty to both counts. NCUA enforcement orders are available via a searchable database online. 

America’s Credit Unions will keep credit unions informed of important NCUA actions. 

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