ALEXANDRIA, Va. — NCUA Board Member Richard Metsger toldCredit Union Times on Tuesday that he is “all ears” onpotential reform or elimination of some regulations on creditunions.

“The one third of the rules that are scheduled for review thisyear, not only am I going to be reviewing them personally, I'mgoing to be doing as much outreach as I possibly can from the bullypulpit of my office to ask the regulating community: You hear aboutthese, tell me if any of these you feel need to be modified, nolonger are applicable based on current application of the creditunion world and the reasons for that,” Metsger said in an interviewat NCUA headquarters in Alexandria.

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Metsger related the regulatory process to his time in politics as an Oregon statelegislator.

“When I was there, there would be like four or five thousandbills a year introduced between the two houses and 800 some billswould pass, right, and one of the things you would hear always hearfrom constituents, 'Aw, dang it, there's too many laws and I thinkfor any law you pass you need to eliminate one.' I mean that's acommon phrase,” the NCUA's newest board member said.

“Most of the things you passed in the legislature were not newlaws at all,” he said. “They were fixing things that you did wrongthe first time or that no longer have an appropriate basis.”

Metsger added that regulations like the fixed asset rule are based on assumptions at the time they are adopted, sofuture improvements are possible.

“I'm hopeful we'll get a lot of feedback on that and I'm goingto be aggressive in asking for that to see which ones you know maystill be applicable or could be made more effective,” he said.

“There's no shame in understanding that time may have madecertain things no longer useful and the same thing with rules andregulations,” Metsger said.

He also said he would like to hear from credit unions if thereare specific rules that need some revisions.

“They can email, they can call. All I ask is like anything elseif you have an issue, tell me what the issue was, is and make yourcase for it, give me just the facts, ma'am.

“I want to know why this rule needs some adaptation or change orelimination, and then given that basis I'll start testing thoseassumptions with others,” he said.