DENVER – After a public hearing on Jan. 19, the Colorado State Financial Services Board adopted rules that amend five rules currently in effect concerning small groups, fixed assets, appraisals, director's policies, and reserves. The changes and deletion of language were meant to clarify the intent of the rules, make it easier to read and comprehend the rules, and remove language that is no longer considered necessary or is considered repetitive of language in other CU rules. The regulation also adds a new rule pertaining to confidentiality of examinations. It clarifies that reports of examination of state-chartered credit unions are the property of the Division of Financial Services and cannot be made public or disclosed by the CU.
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