The NCUA is accepting public comments on the regulations it plans to review this year.
The agency released a list of regulations on Monday that it plans to review this year. Stakeholders are able to submit comments before Aug. 3
According to the NCUA, its rolling review is part of an overall effort to streamline, modernize or eliminate existing regulations. The current view includes federal credit union chartering, field of membership, modifications, and conversions, capital adequacy and designation of low-income status.
"Since 1987, in the interest of transparency, NCUA has reviewed one-third of its regulations each year," NCUA Board Chairman Debbie Matz said. "This process is about communication and accountability. Our annual regulatory review is a critical piece of NCUA's commitment to keeping pace with changes in the credit union system. Our goal is a modern, effective regulatory framework that encourages growth, innovation and service to members without jeopardizing safety and soundness."
Stakeholders can submit comments by email to [email protected] with the subject line "Regulatory Review 2015." Comments can also be filed via standard mail to the NCUA's headquarters. All comments must be received by Aug. 3.
"Public comments help guide us as we plan future regulatory updates," Matz said. "I encourage all interested parties to participate in this process."
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