Dec. 13, 2018

CONTACT: Shelton Roulhac, NASCUS Communications; sroulhac@nascus.org

NASCUS PRESIDENT & CEO LUCY ITO
ON THE NCUA REGULATORY REFORM TASK FORCE REPORT

“NASCUS appreciates NCUA’s efforts to ease the regulatory burden of credit unions and looks forward to reviewing the final report of the agency’s Regulatory Reform Task Force,” said NASCUS President and CEO Lucy Ito. “We also renew our call for the agency to co-locate and combine all insurance-related rules in one section of the agency’s list of regulations. By consolidating insurance rules, NCUA could provide substantial regulatory relief to federally insured state chartered credit unions (FISCUs) in a manner consistent with its regulatory reform efforts to co-locate and combine other rules such as loan maturity and single borrower provisions. Co-locating and combining insurance-related rules will also benefit state and federal examiners, as they will be able to more easily understand which rules apply to FISCUs.”

The National Association of State Credit Union Supervisors (NASCUS) is the primary resource and voice of the state governmental agencies that charter, regulate and examine the nation’s state-chartered credit unions. NASCUS membership is made up of state-chartered credit unions, state regulators and other supporters of the state credit union system. NASCUS is the only organization dedicated to the defense and promotion of the state credit union charter and the autonomy of state credit union regulatory agencies.