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The National Credit Union Administration (NCUA) has adopted a final rule to clarify the role of supervisory guidance in regulating credit unions. This rule makes clear that supervisory guidance, unlike laws or regulations, doesn't have the force of law and does not create binding obligations. The NCUA won't take enforcement actions based on supervisory guidance but will use it to communicate expectations and provide examples of best practices. The rule is intended to ensure that guidance remains a helpful tool for both examiners and credit unions without creating legal obligations.

The Federal Communications Commission (FCC) has issued a final rule to adjust civil monetary penalties for inflation, as required by the Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015. This rule is meant to ensure penalties maintain their effectiveness and deterrent effect over time. The adjustments are based on inflation data and will apply to penalties assessed from January 15, 2021, onward. Different types of violations, such as those by broadcasters or common carriers, have specific maximum penalty limits outlined in the rule.

The Federal Highway Administration (FHWA) has issued a final rule to repeal a previous requirement for State departments of transportation (State DOTs) and metropolitan planning organizations (MPOs) to establish greenhouse gas (GHG) emissions targets and report their progress. This decision was made because the rule was seen as unnecessary and potentially burdensome, with no clear legal backing and minimal benefits. Notably, the courts had already blocked the rule, citing legal and regulatory issues. Repealing this requirement provides clarity and aligns with recent legal decisions, but it doesn't stop State DOTs and MPOs from voluntarily tracking their own CO2 emissions.

The National Endowment for the Arts (NEA) is adjusting the maximum civil monetary penalties (CMPs) according to the Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015. These adjustments ensure that penalties for violations of the Program Fraud Civil Remedies Act (PFCRA) and Restrictions on Lobbying continue to reflect inflation and maintain their deterrent effect. The new penalties are based on the Consumer Price Index and are effective for violations assessed after January 15, 2021. The inflation-adjusted penalties are now set at $11,802 for false claims under the PFCRA and range from $20,720 to $207,314 for lobbying restrictions violations.

The National Credit Union Administration (NCUA) has issued a new rule aimed at improving succession planning for federally insured credit unions. This rule mandates that these credit unions create a written succession plan covering key positions and specifies that the plan must be regularly updated at least every 24 months. Responding to public comments, the NCUA has made several adjustments, such as reducing the frequency of required plan reviews and removing certain officials from the mandatory coverage list. The rule will take effect on January 1, 2026, giving credit unions time to prepare.

The Financial Crimes Enforcement Network (FinCEN), part of the Treasury Department, issued a final rule to adjust certain civil monetary penalties based on inflation, as required by the Federal Civil Penalties Inflation Adjustment Act of 1990. These adjustments are calculated using a specific formula that considers changes in consumer prices, and the updated penalties will apply to violations occurring after the adjustments take effect. This rule does not require public notice or comments, as the changes are mandated by law and involve no new administrative procedures.

The Office of the Comptroller of the Currency (OCC) adopted a final rule to codify the Interagency Statement Clarifying the Role of Supervisory Guidance issued in 2018 along with the Federal Reserve, FDIC, NCUA, and the Bureau of Consumer Financial Protection. This rule emphasizes that supervisory guidance, unlike laws or regulations, does not have legal force and doesn't create legally binding obligations for the public. The rule aims to ensure that the OCC will follow the principles of administrative law and use guidance to support transparency and consistency in the supervision of banks. The final rule takes effect on March 15, 2021, and assures that supervisory guidance will continue to be a valuable tool without being enforceable like laws.