While CUNA appreciates the spirit of the NCUA’s annual review of its regulations, it should not be used as a reason to delay responses to a known problem with a regulation, CUNA wrote to the agency this week. In commenting on the NCUA’s annual review of one-third of its regulations, CUNA asked the agency to be willing to address issued and problems as they are brought to the NCUA’s attention.
“CUNA continues to hear complaints from credit unions and leagues that have contacted the NCUA staff to inform them that a regulation has become out of date, unnecessary or leading to outcomes for credit unions that may not be intended,” the letter reads. “We often are told that the problematic regulation is not up for review or will be up for review in another year and we should address the issue then.”
CUNA urged the agency to use the annual regulatory review as an opportunity for an overall review of NCUA regulations, and allow matters that require more immediate consideration not be bound by a calendar year.
CUNA also offered specific comments on the areas up for review, including: