Removing Barriers Blog

NCUA to Address Reg Reform Task Force Report Next Week
Posted December 06, 2018 by CUNA Advocacy

During its December meeting, in addition to a briefing on blockchain and distributed ledger technology, the Board will vote on a final rule to make technical amendments to various parts of NCUA’s rules to correct minor errors and update and clarify definitions and other outdated provisions.

Lastly, the Board will review a second report from the agency’s Regulatory Reform Task Force. The Task Force’s initial report, released in August 2017, identified a number of sections and specific provisions within NCUA’s rules and regulations that could be revised to reduce unnecessary regulatory burden. As stated in our letter to the agency on the initial report, we “applaud the effort, intent, and approach of NCUA to address the myriad of outdated, ineffective, and excessively burdensome regulations applicable to the credit union industry.” We look forward to the latest report, which should provide a good roadmap of upcoming agency rulemakings aimed at regulatory relief.

Next week’s meeting (12/13 at 10 AM ET) will be livestreamed via NCUA’s website.