The NCUA should move as quickly as possible to adopt many of the task force recommendations to loosen the regulatory burden of financial institutions, trade groups and credit union attorneys said Thursday.
And some could be implemented faster than others, the attorneys and lobbyists said, noting that some of the recommendations already are in the regulatory pipeline.
"Regulatory relief isn't a one-stop shop – there are a number of issues we are focusing on for the industry. NCUA's report is a step in the right direction," said Carrie Hunt, NAFCU's executive vice president of government affairs and general counsel. "Already, a number of the items cited have been proposed, and we hope many of those included come to fruition. Additional field of membership changes and capital changes would certainly be welcome as well."
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