📋NCUA Regulatory Review
Regulatory Publication and Voluntary Review as Contemplated by the Economic Growth and Regulatory Paperwork Reduction Act of 1996
Summary
As contemplated by the Economic Growth and Regulatory Paperwork Reduction Act of 1996 (EGRPRA), the NCUA Board (Board) is voluntarily reviewing agency regulations to identify rules that are outdated, unnecessary, or unduly burdensome on federally insured credit unions. The NCUA is not statutorily required to undertake the EGRPRA review; however, the Board has elected to participate in the decennial review process. The NCUA divided its regulations into 10 categories outlined in the included chart. Over approximately 2 years, the NCUA is publishing four Federal Register documents each requesting comment on multiple categories of regulations. This second Federal Register document requests comment on regulations in the categories of "Agency Programs," "Capital," and "Consumer Protection." The NCUA will address the remaining five categories in the next two documents.
Agencies
- National Credit Union Administration
Business Impact
$$ - Med
The content discusses a regulatory review conducted by the NCUA to identify outdated or burdensome regulations affecting credit unions, directly impacting compliance and operational requirements for businesses in this sector. Business owners need to be aware of potential changes that could reduce regulatory burdens and improve operational efficiency.