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Samantha: Hello, this is Samantha Shares.

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This episode covers N C U A Announces
Deregulation Project and First

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Round of Proposed Regulatory Changes

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. The following is an audio
version of that press release.

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This podcast is educational
and is not legal advice.

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We are sponsored by Credit Union
Exam Solutions Incorporated, whose

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team has over two hundred and
Forty years of National Credit

00:00:24.458 --> 00:00:26.338
Union Administration experience.

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We assist our clients with N C
U A so they save time and money.

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If you are worried about a recent,
upcoming or in process N C U A

00:00:34.858 --> 00:00:39.188
examination, reach out to learn how they
can assist at Mark Treichel dot com.

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Also check out our other podcast called
With Flying Colors where we provide tips

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on how to achieve success with N C U A.

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And now for the press release.

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N C U A Announces Deregulation Project and
First Round of Proposed Regulatory Changes

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Stakeholders are encouraged
to review Notice of Proposed

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Rulemaking and submit comments.

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The National Credit Union
Administration today announced the

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first round of proposed regulatory
changes associated with a new

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initiative to review and potentially
revise the agency’s regulations.

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This initiative, N C U A’s
Deregulation Project, follows

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Executive Order 14192, Unleashing
Prosperity Through Deregulation.

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N C U A’s Deregulation Project
will involve a comprehensive

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review of regulations documented
in Title 12, Chapter V I I of

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the Code of Federal Regulations.

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This review will ensure the regulations
are focused on the safety, soundness,

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or resilience of credit unions.

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Further, N C U A will propose changing
or removing regulations that are:

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Obsolete;

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Duplicative of statutory requirements;

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Intended to serve as
guidance, not requirements; or

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Overly burdensome.

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In addition to announcing the
project, N C U A is requesting

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comments on four proposals that
would clarify agency guidance or

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eliminate unduly burdensome or obsolete
requirements in the federal register.

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The four proposals include:

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Changes for Corporate Credit
Unions – 12 C F R 704.8

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and 704.15

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N C U A is proposing to amend its
regulations for corporate credit

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unions by removing the requirement
that a corporate credit union’s asset

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and liability management committee, A
L C O, must have at least one member

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who is also a member of the corporate
credit union’s board of directors.

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Changes for Supervisory Committee
Audits and Verifications – 12 C F R 715

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N C U A is proposing to amend its
regulations governing supervisory

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committee audits to eliminate
unnecessary, redundant, and

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overly prescriptive provisions.

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Changes for Guidelines for
Safeguarding Member Information

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– 12 C F R 748 Appendix A

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N C U A is proposing to remove
Appendix A to part 748, guidelines

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for safeguarding member information,
from the Code of Federal Regulations.

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Changes for Guidance on Response
Programs for Unauthorized Access

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to Member Information and Member
Notice – 12 C F R 748 Appendix B

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N C U A is proposing to remove Appendix
B to part 748, guidance on response

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programs for unauthorized access to
member information and member notice,

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from the Code of Federal Regulations.

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This concludes the press release.

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Speaker 2: Interested in a
cruise with flying colors?

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sea, hosted by the Florida Council.

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Which includes Georgia and Alabama.

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This event is open to all
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You'll hear from an outstanding lineup
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nationally recognized credit union
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And yes, I'll be there too.

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With Steve Farr and Todd Miller of Credit
Union Exam Solutions to talk about how

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to pass your exam with flying colors.

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I hope to see you there.

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I.