Getting the latest on NCUA’s Deregulation Project

The NCUA is going through regulations to alleviate unnecessary regulatory burdens as part of its Deregulation Project, and shared details on the latest developments Wednesday in a webinar exclusively for America’s Credit Unions’ members. The NCUA’s deregulation effort follows the president’s Executive Order on deregulation, affecting multiple federal agencies. 

Webinar attendees heard directly from the NCUA about its comprehensive review and efforts to change or remove regulations documented in Title 12, Chapter VII of the Code of Federal Regulations.

The agency is focused on four categories of regulations: obsolete, duplicative of statutory requirements, intended to serve as guidance, or overly burdensome. Future project proposals will likely come in groups of four.

NCUA issued four proposals last week as part of the project, in the areas of:

• Supervisory committee audits and verifications;
• Response programs for unauthorized access to member information and member notice;
• Guidelines for safeguarding member information; and
• Corporate credit unions.

America’s Credit Unions remains engaged with NCUA and will continue efforts through the duration of the project to achieve regulatory relief, including additional opportunities to directly engage with the agency with questions.

View the webinar slides