COMMENT CALL: Please share your thoughts on four pending NCUA regulatory relief proposals.
On January 13th, the National Credit Union Administration (NCUA) announced the third round of proposed regulatory changes associated with NCUA’s Deregulation Project.
The NCUA is requesting comments on four proposals that would clarify agency guidance or eliminate unduly burdensome or obsolete requirements.
The League may comment on these proposals, depending on the feedback we receive from Wisconsin’s credit unions. Please reach out to Paul Guttormsson at The League with your reactions to or thoughts about any of the proposals listed below. We will be sure that our comments reflect your views. Our letters will not identify the credit unions that offer their input to us.
The NCUA’s Deregulation Project page includes details on each of the proposals summarized below.
Round Three
- Nondiscrimination Requirements. The NCUA is proposing to remove part 701.31 from the Code of Federal Regulations. This section, labeled “nondiscrimination requirements,” was originally intended to summarize the non-discrimination requirements found in the Fair Housing Act.
Impact on Credit Unions: This does not change credit unions’ compliance obligations regarding the FHA and ECOA, but it should lessen any confusion caused by 701.31 which has not kept pace with current law.
- FCUs Service to Underserved Areas. The NCUA is proposing to rescind the Interpretive Ruling and Policy Statement 08-2, issued in 2008. This information can be found in the NCUA’s Chartering and Field of Membership Manual, which is published in its entirety in Appendix B to Part 701.
Impact on Credit Unions: This change would eliminate a redundant standard currently listed in more than one area. This would ease the compliance burden on FCUs by limiting the number of sources that FCUs must check to ensure compliance with applicable chartering and FOM requirements.
- FCUs Community Chartering Policies. The NCUA proposes to eliminate the Interpretive Ruling and Policy Statement 10-1 issued in 2010. This information can be found in the NCUA’s Chartering and Field of Membership Manual, which is published in its entirety in Appendix B to Part 701.
Impact on Credit Unions: This change would eliminate a redundant standard currently listed in more than one area. This would ease the compliance burden on FCUs by limiting the number of sources that FCUs must check to ensure compliance with applicable community chartering and FOM requirements.
- Federal Corporate Credit Union Chartering. The NCUA proposes to rescind the Interpretive Ruling and Policy Statement 11-02 issued in 2011, which sets forth the requirements and process for chartering corporate federal credit unions. This information can be found in the NCUA’ Chartering and Field of Membership Manual, which is published in its entirety in Appendix B to Part 701.
Impact on Credit Unions: This would reduce the regulatory burden by limiting the sources that FCUs must check when chartering a new corporate credit union ensuring all they would need to comply with is the guidance and procedures in the Federal Corporate Credit Union Chartering Manual.
Please email Paul Guttormsson with your thoughts on this round of regulatory relief proposals by March 1, 2026, so that our comment letter (which is due March 16, 2026) can reflect your positions.