The National Association of State Credit Union Supervisors (NASCUS) submitted a comment letter to the National Credit Union Administration (NCUA) in response to the agency’s voluntary review of regulations under the Economic Growth and Regulatory Paperwork Reduction Act (EGRPRA).
This letter drives the importance of improving regulatory clarity for federally insured, state-chartered credit unions (FISCUs). NASCUS urged NCUA to simplify and consolidate regulations applicable to FISCUs, noting that the current structure can be difficult to navigate and often requires institutions to search across multiple sections to determine which requirements apply. Greater clarity would reduce compliance burden, improve efficiency, and benefit both credit unions and examiners.
