NCUA Releases Annual Regulatory Review List
The NCUA is accepting public comments on the substance and clarity of rules on the list, as part of its rolling regulatory review in which all regulations are reviewed every three years.
“Credit unions and the products they offer continue to evolve, and effective regulation keeps pace with a changing industry,” said NCUA Board Chairman Debbie Matz. “We review one-third of NCUA’s regulations each year to make sure our standards are timely and appropriate.
“At the heart of my Regulatory Modernization Initiative is the commitment to modifying, streamlining, refining or repealing rules that are not required by statute and would not jeopardize safety and soundness,” Matz said in a statement.
Additionally, the NCUA will expand its review of federal credit union bylaws which began in 2012.
Matz said the regulator has heard ideas from credit union officials requesting amendments to the standard bylaws, so the agency will “reach out to volunteer directors and other stakeholders who can recommend bylaw changes that could be standardized.”
Credit unions and other public stakeholders can submit comments about the rules under review until Aug. 5.
Comments can be sent via email to OGCMail@NCUA.gov with the subject line “Regulatory Review 2013”, or mailed to Regulatory Review 2013, Office of General Counsel, NCUA, 1775 Duke St., Alexandria, VA 22314-3428.