Removing Barriers Blog

CUNA Comment on NCUA Regulatory Reform Agenda
Posted November 20,2017 by CUNA Advocacy

CUNA submitted a comment letter to NCUA regarding its comprehensive Regulatory Reform Agenda, issued by a Task Force charged with culling all relevant regulations, with recommendations to streamline and eliminate ineffective, outdated, and excessively burdensome regulations.  The agenda parses regulatory recommendations into multi-year efforts, and temporarily supersedes the agency’s standard one-third annual regulatory review, which is slated to re-commence in 2020.

A number of the recommendations have already been through the regulatory pipeline, as proposals or adopted regulations. Examples of provisions that have been addressed include capital standards, member lending, and structural procedures relating to appeals, mergers, and field of membership. CUNA is pleased with the commitment and focus of NCUA in managing the process timeline.

CUNA highlighted the need for reform in Bank Secrecy Act compliance, including higher Currency Transaction and Suspicious Activity reporting thresholds. CUNA also advocated for independent third-party review of examiners.  CUNA appreciated the additional opportunity to comment on these proposals.