12 U.S.C. § 1772e
(a) Requirement
The Board shall, by rule, adopt data standards for all collections of information and reports regularly filed with or submitted to the Administration under this chapter.
(b) Consistency
The data standards required under subsection (a) shall incorporate, and ensure compatibility with (to the extent feasible), all applicable data standards established in the rules promulgated under section 5334 of this title, including, to the extent practicable, by having the characteristics described in clauses (i) through (vi) of subsection (c)(1)(B) of such section 5334.
12 U.S.C. § 1772e
STATUTORY NOTES AND RELATED SUBSIDIARIES
RULEMAKING Pub. L. 117-263 §5873, Dec. 23, 2022, 136 Stat. 3436, provided that: "(a) IN GENERAL.-The National Credit Union Administration Board shall issue rules to carry out the amendments made by this subtitle [subtitle G (§§5871-5874) of title LVIII of div. E of Pub. L. 117-263 enacting this section and section 1772f of this title], which shall take effect not later than 2 years after the date on which final rules are promulgated under section 124(b)(2) of the Financial Stability Act of 2010 [ 12 U.S.C. 5334(b)(2) ], as added by section 5811(a) of this title."(b) SCALING OF REGULATORY REQUIREMENTS; MINIMIZING DISRUPTION.-In issuing the rules required under subsection (a), the National Credit Union Administration Board- "(1) may scale data reporting requirements in order to reduce any unjustified burden on smaller regulated entities; and"(2) shall seek to minimize disruptive changes to the persons affected by those regulations."
RULE OF CONSTRUCTION REGARDING NO NEW DISCLOSURE REQUIREMENTS Pub. L. 117-263 §5874, Dec. 23, 2022, 136 Stat. 3437, provided that: "Nothing in this subtitle [subtitle G (§§5871-5874) of title LVIII of div. E of Pub. L. 117-263 enacting this section, section 1772f of this title, and provisions set out as a note under this section], or the amendments made by this subtitle, shall be construed to require the National Credit Union Administration Board to collect or make publicly available additional information under the Federal Credit Union Act ( 12 U.S.C. 1751 et seq.), beyond information that was collected or made publicly available under that Act, as of the day before the date of enactment of this Act [Dec. 23, 2022]."
- credit
- The term "credit" means the right granted by a person to a consumer to defer payment of a debt, incur debt and defer its payment, or purchase property or services and defer payment for such purchase.