On October 14, 2026, the NCUA released its twelfth round of proposed regulatory changes associated with its Deregulation Project. The project is an ongoing review of NCUA’s regulations to ensure regulations are focused on credit unions’ safety, soundness, and resilience.
The NCUA is requesting comments on three proposals:
Fidelity Bond and Insurance Coverage [12 CFR 704 and 12 CFR 713]. The Board proposes simplify fidelity bond requirements for FICUs and corporate credit unions. The proposal would remove or modify certain requirements related to fidelity bond purchases and renewals, approved bond forms, and guidance on bond coverage levels.
Incidental Powers (Powers of Federal Credit Unions) [12 CFR 721]. The Board proposes to clarify that FCUs may apply directly to the Board for approval of an activity that is not already recognized as an authorized incidental power. While FCUs may still seek guidance from the NCUA Office of General Counsel, the Board notes that obtaining an advisory opinion has always been optional. The proposed rule would remove language that has caused confusion about whether an advisory opinion is required before submitting an application to the Board.
Central Liquidity Facility [12 CFR 725]. The Board proposes to incorporate certain regulatory changes adopted during the COVID-19 pandemic, removing outdated provisions, and simplifying CLF membership and reporting requirements. The proposal would also provide additional flexibility for capital stock subscription adjustments and make technical updates to improve clarity and consistency.
The NCUA’s press release can be found here.