NCUA Set to Review Range of Regs
If you have concerns with current regulations on corporate credit unions, chartering or fees paid by FCUs to the NCUA, speak this year or for three years hold your piece.
Those are among the regulations that the agency plans to examine this year as part of its process of reviewing one third of all of its regulations annually.
NCUA Chairman Debbie Matz said in light of President Obama’s recent executive order, the agency is especially “seeking comments on rules that may be ‘outmoded, ineffective, insufficient, or excessively burdensome.’ We are committed to ‘modify, streamline, expand, or repeal’ rules that are not required by statute and would not jeopardize safety and soundness.”
The other regulations up for review include those concerning: prompt corrective action, investment and deposit activity, and FCU ownership of fixed assets.
Comments are due to the agency by Aug. 3.
The full list of regulations is online.