Thank you for sharing!

Your article was successfully shared with the contacts you provided.

ARLINGTON, Va. – NASCUS responded to the NCUA’s request for comments on the agency’s 2005 Regulatory Review and addressed its comments on the organizational structure of NCUA’s rules and regulations. In its letter written by VP Regulatory Affairs Brian Knight and filed Aug. 1, NASCUS suggested that NCUA combine within Part 741 all rules applying to federally insured CUs, rather than incorporate rules by reference as is presently done. In addition, NASCUS’ letter states that, “In order to understand insurance rules, credit unions should be required to review Part 741 only and not be forced to search throughout NCUA’s rules for referenced provisions.” “Such a consolidation of rules would ease compliance burdens on smaller credit unions and clarify misunderstandings concerning which rules and which parts of rules apply,” Knight wrote He cited by example Part 715 which he stated “only partially applies to state-chartered federally insured credit unions, however NASCUS often receives questions from state-chartered credit unions as to non-applying provisions of the rule.”

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?


Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times
Live Chat

Copyright © 2022 ALM Media Properties, LLC. All Rights Reserved.