CUNA supports NCUA’s commitment to continually reviewing its regulations, CUNA wrote in response to NCUA’s annual review of one-third of its regulations. The letter provides suggestions on how to streamline, clarify or otherwise improve regulatory requirements in the regulations covered by the review.
“As the NCUA is aware the cumulative regulatory burden on credit unions is near an all-time high. Therefore, we urge the NCUA to promulgate new or expand existing rules only if such rules are clearly warranted based on a compelling need,” the letter reads. “Similarly, the agency should strongly consider the current regulatory burden on credit unions as it proceeds with this and future regulatory reviews.”
CUNA called on NCUA to:
CUNA also highlighted its: