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NCUA Announces Voluntary Regulatory Review

Michael Christians • May 24, 2024

The Economic Growth and Regulatory Paperwork Reduction Act (EGRPRA) of 1996 called on the federal bank regulatory agencies to review their regulations every 10 years to identify any outdated, unnecessary, or unduly burdensome regulations. Although the National Credit Union Administration (NCUA) is not subject to the EGRPRA, the agency intends to voluntarily participate in this decennial review process.

On May 23rd, the NCUA issued its first of four Federal Register notices requesting comment on the following regulations:

Part 701 - Organization and Operation of Federal Credit Unions
Part 702 - Capital Adequacy
Part 703 - Investment and Deposit Activities
Part 705 - Community Development Revolving Loan Fund Access for Credit Unions
Part 707 - Truth in Savings
Part 708 - Mergers and Conversions
Part 712 - CUSOs
Part 714 - Leasing
Part 721 - Incidental Powers
Part 723 - Member Business Loans / Commercial Lending
Part 724 - Trustees and Custodians of Certain Tax-Advantaged Savings Plans
Part 725 - NCUA Central Liquidity Facility
Part 741 - Requirements for Insurance

You can access the NCUA's notice here.

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