Agency targets 12 rules for review in 2017

March 27, 2017 -- Twelve regulations will be reviewed by NCUA in 2017 as part of its regulatory review, a process in which the agency reviews all of its existing regulations over a three-year period, the agency recently announced. Comments will be due by Aug. 14.

Among the rules subject to review: rules of NCUA board procedure and public observation of board meetings, and; Bank Secrecy Act (BSA) compliance.

In a one-page notice posted on its website by the agency's office of general counsel, 12 rules that are part of the review are listed, which are:

RULE SECTION

DESCRIPTION

748

Security Program, Report of Suspected Crimes, Suspicious Transactions,
Catastrophic Acts and Bank Secrecy Act Compliance

749

Records Preservation Program and Appendices – Record Retention Guidelines; Catastrophic Act Preparedness Guidelines

750

Golden Parachute and Indemnification Payments

760

Loans in Areas Having Special Flood Hazards

761

Registration of Residential Mortgage Loan Originators

790

Description of NCUA; Requests for Agency Action

791

Rules of NCUA Board Procedure; Promulgation of NCUA Rules and Regulations; Public Observation of NCUA Board Meetings

792

Requests for Information under the Freedom of Information Act and Privacy Act, and by Subpoena; Security Procedures for Classified Information

793

Tort Claims Against the Government

794

Enforcement of Nondiscrimination on the Basis of Handicap in Programs or Activities Conducted by the National Credit Union Administration

796

Post-Employment Restrictions for Certain NCUA Examiners

797

Procedures for Debt Collection

 

“NCUA’s goal is to ensure that all of our regulations are clearly articulated and easily understood,” the NCUA notice states. “Comments are welcome on that aspect, as well as substantive suggestions for regulatory changes.

The notice also states that the agency general counsel maintains a rolling review schedule that identifies one third of NCUA’s existing regulations for review each year and provides notice to the public of those regulations under review so the public may have an opportunity to comment.

Comments may be e-mailed to OGCMAIL@NCUA.GOV or mailed to Regulatory Review (2017), Office of General Counsel, National Credit Union Administration, 1775 Duke Street, Alexandria, Virginia 22314-3428. For e-mailed comments, please include the words “Regulatory Review (2017)” in the subject line.

LINK:
NASCUS matrix of proposed rules (with link to regulatory review notice)