CUNA Regulatory Comment Call


February 16, 2001

Electronic Records Preservation

(NOT A MAJOR RULE)

EXECUTIVE SUMMARY

The NCUA Board voted to seek comments on a proposed rule clarifying that credit unions may preserve their records in electronic form, as authorized by the Electronic Signatures in Global and National Commerce Act. The appendix for the rule also adds record retention guidelines found in the NCUA Accounting Manual for Credit Unions. In addition, this proposal eliminates the requirement that a credit union's financial officer be responsible for storing vital records, and it permits a credit union's board of directors to designate another employee to serve that function. The proposal was published in the Federal Register on February 23, 2001 and comments are due April 24, 2001. Please submit your comments to CUNA by April 9, 2001.

Please feel free to fax your responses to CUNA at 202-371-8240; e-mail them to Associate General Counsel Mary Dunn at mdunn@cuna.com or to Assistant General Counsel Michelle Profit at mprofit@cuna.com; or mail them to Mary or Michelle c/o CUNA's Regulatory Advocacy Department, 805 15th Street, NW, Suite 300, Washington, DC 20005. For the current version of this proposal please press below. http://ncua.gov/RegulationsOpinionsLaws/proposed_regs/12CFRPart749-proposed.html

QUESTIONS REGARDING THE PROPOSED RULE

Eric Richard • General Counsel • (202) 508-6742 • erichard@cuna.com
Mary Mitchell Dunn • SVP & Associate General Counsel • (202) 508-6736 • mdunn@cuna.com
Jeffrey Bloch • Assistant General Counsel • (202) 508-6732 • jbloch@cuna.com
Catherine Orr • Senior Regulatory Counsel • (202) 508-6743 • corr@cuna.com