President Obama on Monday issued an executive order asking the NCUA and other independent regulatory agencies to come up with a plan within 120 days for cutting regulations that are excessive and duplicative.
"I hope you see this as an opportunity to do something big and lasting — to change the ways of Washington," Obama wrote in a letter to the agencies accompanying the executive order.
It is similar to an executive order that the Obama administration issued to federal agencies earlier this year but those departments, such as the Treasury Department, have to comply with the executive order.
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