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2012 starts new round of NCUA rule review

ALEXANDRIA, Va. (1/ 31/12)--Each year, the National Credit Union Administration (NCUA) reviews one-third of its regulations to identify any rule or provision that it deems 'outmoded, ineffective, insufficient, or excessively burdensome," and the agency just released its 2012 review list.
 
The agency is now accepting public comments on the substance and wording of each rule.

NCUA Chairman Debbie Matz, in announcing the list, said that, "in the spirit of President Obama's Executive Order" to reduce regulatory burden (13579), the NCUA is "committed to 'modify, streamline, expand, or repeal' rules that are not required by statute and would not jeopardize safety and soundness."

Regulations under review in 2012 include rules governing bylaws, fields of membership, fixed-asset ownership, mergers, and corporate credit unions, among others.
 
Interested parties may submit comments through Aug. 3  by emailing them to OGCMail@NCUA.gov with the subject line "Regulatory Review 2012," or by mailing them to the Office of General Counsel, NCUA, 1775 Duke Street, Alexandria, VA 22314-3428.

The NCUA noted that the 2012 round of reviews begins a new three-year rotation that will result in another complete review of all NCUA regulations by 2014.

The NCUA also publishes a regulatory agenda in the Federal Register each May and November, as required by executive order (12866).

Use the resource link below to access the 2012 rule list.
 
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Resource Links
 
NCUA 2012 Rule Review List
 

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