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NCUA Begins Review of Regulations

The NCUA has initiated a voluntary review of its regulations, similar to the process used by federal banking regulators under the 1996 Economic Growth and Regulatory Paperwork Reduction Act (EGRPRA). This decision, approved unanimously by the NCUA board, aims to identify outdated or burdensome regulations.

Although not required by EGRPRA, the NCUA conducts its own review every ten years. This two-year review will involve four Federal Register notices, the first of which was published Thursday. The NCUA is currently seeking comments on regulations related to “Applications and Reporting” and “Powers and Activities,” with a deadline of August 21.

Future notices will address the remaining eight categories of regulations.

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