The NCUA is conducting a comprehensive review of its rules to identify those that may be outdated, unnecessary, or unduly burdensome.

This voluntary review is part of the decennial process under the Economic Growth and Regulatory Paperwork Reduction Act (EGRPRA) of 1996. While not statutorily required to participate, the NCUA has opted to do so as part of its ongoing commitment to regulatory modernization. The review is taking place over approximately two years.

As part of the process, the NCUA will issue four separate requests for public comment through the Federal Register, covering ten categories of regulations. The first request was published last year, and the second was released last week. The categories under review are as follows:

• Applications and Reporting (public comment period ended August 21, 2024)
• Powers and Activities (public comment period ended August 21, 2024)
• Agency Programs (public comment period ends October 8, 2025)
• Capital (public comment period ends October 8, 2025)
• Consumer Protection (public comment period ends October 8, 2025)
• Corporate Credit Unions
• Directors, Officers, and Employees
• Anti-Money Laundering and Bank Secrecy Act
• Rules of Procedure
• Safety and Soundness

The NCUA will address the remaining five categories in the next two documents.