NCUA updates Supervisory Review Committee scope with RegFlex

ALEXANDRIA, Va.-When the NCUA Board adopted its final rule on the Regulatory Flexibility Program (RegFlex) at the November board meeting, it also broadened the scope of the Supervisory Review Committee by allowing credit unions to appeal to the committee when its RegFlex eligibility is revoked by the regional director. NCUA just recently issued guidelines for the committee, which took on this responsibility when RegFlex became effective in March. Under the RegFlex regulation, a credit union may appeal the regional director's decision to revoke RegFlex authority to the committee within 60 days from the date of the determination (12 C.F.R. 742.7). In other cases that go before the committee, a review by the regional director comes after a review of the field examiners determination. Following the committee's decision, a credit union has another 60 days to file an appeal with the board (12 C.F.R. 742.7). This differs from appeals of other supervisory determinations because the credit union or the region may appeal to the board within 30 days of the decision by the committee.