NCUA’s regulatory reform agenda appeared in the Federal Register Tuesday, and comments are due Nov. 20. A number of CUNA regulatory relief suggestions are present in the package of proposals, which were announced earlier this month.
CUNA will file its own detailed comment letter, and urges credit union stakeholders to do the same.
The recommended changes are the result of an internal NCUA task force, and would be adopted over the next 4 years. Changes would require an affirmative vote from the NCUA board.
According to NCUA, the changes are meant to clarify, improve, revise or eliminate regulations. The task force’s recommendations assess regulatory changes in terms of the time and resources necessary to implement them and the potential benefit to credit unions.
The agency’s regulatory reform task force was created earlier this year after NCUA voluntarily chose to comply with the spirit of Executive Order 13777, which requires federal agencies to conduct regulatory reviews.