NCUA Board Approves Public Comment on Records Retention

The NCUA Board is seeking input on improving and updating its records preservation program. During its meeting last week, the Board unanimously approved an Advanced Notice of Proposed Rulemaking to solicit public comments on updating Part 749. All federally insured credit unions are required to maintain a records preservation program to identify, store, and reconstruct vital records if records are destroyed. Public comment is due 60 days after the Federal Register publishes the request.