The NCUA reviews all of its existing regulations every three years. The NCUA’s Office of General Counsel maintains a rolling review schedule that identifies one-third of the NCUA’s existing regulations for review each year and provides notice to the public of those regulations under review so the public may have an opportunity to comment.
The NCUA will review the following regulations in 2020:
|711||Management Official Interlocks|
|712||Credit Union Service Organizations (CUSOs)|
|713||Fidelity Bond and Insurance Coverage for Federally Insured Credit Unions|
|715||Supervisory Committee Audits and Verifications|
|717||Fair Credit Reporting|
|723||Member Business Loans; Commercial Lending|
|724||Trustees and Custodians of Certain Tax-Advantaged Savings Plans|
|725||National Credit Union Administration Central Liquidity Facility|
|740||Accuracy of Advertising and Notice of Insured Status|
|741||Requirements for Insurance|
|745||Share Insurance and Appendix|
|747||Administrative Actions, Adjudicative Hearings, Rules of Practice and Procedure, and Investigations|
Anyone wishing to provide comments on the above regulations should submit them by August 3, 2020. The NCUA’s goal is to ensure that all of our regulations are clearly articulated and easily understood. Comments are welcome on that aspect, as well as substantive suggestions for regulatory changes. 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. For e-mailed comments, please include the words “Regulatory Review (2020)” in the subject line.
The NCUA’s regulatory process is discussed in NCUA Interpretive Ruling and Policy Statements (IRPS) 87-2, 03-2, 13-1, and 15-1 located on the NCUA’s website. In addition to the periodic review described above, the NCUA may review or revise regulations through processes outside this periodic review. The NCUA publishes a regulatory agenda in the Federal Register each spring and fall.