Proposed Reg Reform agenda comment request summarized

Sept. 5, 2017 -- An extended review of NCUA’s regulatory reform agenda “request for comments” reveals the agency is looking for comments about reform in the short term (first two years of a four-year project, and categorized as the “most important”), the medium term (third year of the project) and long-term (fourth year of the project), according to a new summary posted by NASCUS.

“On February 24 of this year, President Trump issued Executive Order 13777, Enforcing the Regulatory Reform Agenda, to direct federal agencies to review their regulations to determine which regulations may be repealed, replaced, or modified,” the NASCUS summary states in its preamble. “While the executive order does not apply to NCUA, the Agency has chosen to adhere to its spirit and undertake a review of all rules and regulations.  NCUA has published a recommended regulatory reform agenda that groups its existing rules into three Tiers for revision over the course of four years.”

In each of the three tiers, the NASCUS summary notes the actions that NCUA proposes to take over the next four years to clarify, remove, expand authority, improve or expand relief (in the short- and long-terms).

The summary also notes that NCUA is proposing suspending its annual review of one-third of its regulations (which NCUA has been doing since 1987, on a voluntary basis). “The NCUA Task Force recommended renewing the annual review in 2020 (after the 4-year review and reform being conducted under the proposed Regulatory Reform Agenda),” the summary notes.

Comments are due Nov. 20 on the proposed agenda.

NASCUS Summary: Request for comments, NCUA Regulatory Reform Agenda