Regulatory Publication and Review Under the Economic Growth and Regulatory Paperwork Reduction Act of 1996
The NCUA Board (Board) is continuing its comprehensive review of its regulations to identify outdated, unnecessary, or burdensome regulatory requirements imposed on federally insured credit unions, as contemplated by section 2222 of the Economic Growth and Regulatory Paperwork Reduction Act of 1996 (EGRPRA). This second decennial review of regulations began when the Board issued its first EGRPRA notice on May 22, 2014, covering the two categories of ``Applications and Reporting'' and ``Powers and Activities.'' \1\ The second notice followed, covering the three categories of ``Agency Programs,'' ``Capital,'' and ``Consumer Protection,'' which was published on December 19, 2014.\2\ The third notice was published on June 24, 2015, and covered the next three categories of rules: ``Corporate Credit Unions,'' ``Directors, Officers and Employees,'' and ``Money Laundering.'' \3\ This fourth and final notice covers the remaining two categories: ``Rules of Procedure'' and ``Safety and Soundness.'' This review process presents a significant opportunity to consider the possibilities for burden reduction in groups of similar regulations. The Board welcomes comment on the categories, the order of review, and all other aspects of this initiative in order to maximize the review's effectiveness.