One-third of the regulations published by the federal regulator of credit unions is under review this year, and the agency is accepting input on those rules until Aug. 3.
The National Credit Union Administration (NCUA) conducts a rolling review that ensures each of its regulations is reviewed every three years. To accomplish that, it reviews one-third of its regs each year and invites public comment. The agency says its goal is to ensure all its regulations are clearly articulated and easily understood. “Comments are welcome on that aspect, as well as substantive suggestions for regulatory changes,” according to the online notice of the 2020 review.
In all, 16 regs are on the agency’s list for review in 2020, as follows:
- Management Official Interlocks (Part 711 of the rules and regulations)
- Credit Union Service Organizations (CUSOs) (Part 712)
- Fidelity Bond and Insurance Coverage for Federally Insured Credit Unions (Part 713)
- Leasing (Part 714)
- Supervisory Committee Audits and Verifications (Part 715)
- Fair Credit Reporting (Part 717)
- Incidental Powers (Part 721)
- Appraisals (Part 722)
- Member Business Loans; Commercial Lending (Part 723)
- Trustees and Custodians of Certain Tax-Advantaged Savings Plans (Part 724)
- NCUA Central Liquidity Facility (CLF) (Part 725)
- Accuracy of Advertising and Notice of Insured Status (Part 740)
- Requirements for Insurance (Part 741)
- Share Insurance and Appendix (Part 745)
- Appeals Procedures (Part 746)
- Administrative Actions, Adjudicative Hearings, Rules of Practice and Procedure, and Investigations (Part 747)
Comments may be e-mailed to OGCMAIL@NCUA.GOV or mailed to Regulatory Review (2020), Office of General Counsel, National Credit Union Administration, 1775 Duke Street, Alexandria, Virginia 22314-3428. For e-mailed comments, senders should include the words “Regulatory Review (2020)” in the subject line.