With 2020 regulatory review now underway, NCUA seeks public input

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The National Credit Union Administration is seeking comment on one-third of its existing regulations, which are currently under review.

Every year, the agency’s office of general counsel identifies one-third of its existing regulations and provides notice of those regulations under review so the public can have an opportunity to comment, according to the NCUA.

“The NCUA’s goal is to ensure that all of our regulations are clearly articulated and easily understood,” the agency announced on its website Feb. 10. “Comments are welcome on that aspect, as well as substantive suggestions for regulatory changes.”

Comments are being accepted until Aug. 3 on the following regulations:

  • Regulation 711: Management Official Interlocks;
  • Regulation 712: Credit Union Service Organizations (CUSOs);
  • Regulation 713: Fidelity Bond and Insurance Coverage for Federally Insured Credit Unions;
  • Regulation 714: Leasing;
  • Regulation 715: Supervisory Committee Audits and Verifications;
  • Regulation 717: Fair Credit Reporting;
  • Regulation 721: Incidental Powers;
  • Regulation 722: Appraisals;
  • Regulation 723: Member Business Loans; Commercial Lending;
  • Regulation 724: Trustees and Custodians of Certain Tax-Advantaged Savings Plans;
  • Regulation 725: National Credit Union Administration Central Liquidity Facility;
  • Regulation 740: Accuracy of Advertising and Notice of Insured Status;
  • Regulation 741: Requirements for Insurance;
  • Regulation 745: Share Insurance and Appendix;
  • Regulation 746: Appeals Procedures; and
  • Regulation 747: Administrative Actions, Adjudicative Hearings, Rules of Practice and Procedure, and Investigations.

Instructions for comment submissions can be found on the NCUA website.

 

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