WASHINGTON (5/12/09)—In its latest semiannual regulatory agenda, the National Credit Union Administration (NCUA) plans to review elements of its rules regarding the confidentiality of suspicious activity reports (SARS). The regulatory agenda, published in the Federal Register, details upcoming regulatory developments within the NCUA. As part of its triennial review of existing regulations, the NCUA plans to examine its current SARS provisions to identify ways to “clarify the scope” of its current confidentiality rules. A notice of proposed rulemaking (NPRM) will be issued this June, according to the release. The Credit Union National Association (CUNA) has recently asked for comments on proposed rule changes that would clarify the scope of confidentiality prohibitions for SARs, address a prohibition against the disclosure of a SAR by the government, clarify that standards applicable to government SAR disclosures are consistent with the goals of the Banker Secrecy Act (BSA), and incorporate elements of the USA Patriot Act into current safe harbor provisions. The NCUA is also working to “update, clarify and improve existing part 705” of its rules governing its Community Development Revolving Loan Fund and to remove any “unnecessary detail” from the rule. The NPRM for these rules has already been issued, and the comment period for this NPRM will end on Nov. 30, the release said.