The US National Credit Union Administration (NCUA) announced the first round of proposed regulatory changes under its Deregulation Project, an agency-wide initiative to review and potentially revise the regulations in Title 12, Chapter VII of the Code of Federal Regulations. The review is intended to keep requirements focused on the safety, soundness, or resilience of credit unions and to change or remove provisions that are obsolete, duplicative of statute, intended as guidance rather than requirements, or overly burdensome. The four proposals open for comment would: amend corporate credit union rules to remove the requirement that the asset and liability management committee include at least one member who is also a corporate credit union board director; revise supervisory committee audit and verification rules by eliminating unnecessary, redundant, and overly prescriptive provisions; and remove from the Code of Federal Regulations two appendices to part 748 that set out guidelines for safeguarding member information and guidance on response programs for unauthorized access to member information and member notice. NCUA encouraged stakeholders to review the notices of proposed rulemaking in the Federal Register and submit comments through the Federal Rulemaking Portal.
National Credit Union Administration 2025-12-10
US National Credit Union Administration launches Deregulation Project and consults on four initial proposals including corporate credit union governance and removal of member information guidance
The US National Credit Union Administration (NCUA) has proposed regulatory changes under its Deregulation Project, aiming to streamline Title 12, Chapter VII of the Code of Federal Regulations. Key proposals include amending corporate credit union rules, revising supervisory committee audit rules, and removing certain appendices related to member information security. Stakeholders are invited to review and comment on these proposals.