ARLINGTON, Va.–The latest issue of The NCUA Report has been released, including a column from NCUA Board Chairman J. Mark McWatters in which he outlines the agency’s regulatory relief efforts to date.
Other articles in the Q4 2017 NCUA Report include:
- The Rise of Bitcoin: Understanding the Ins and Outs of this Cryptocurrency
- Chairman’s Corner: Regulatory Reform Begins with this Critical First Step
- Outlook for Economy Looks Strong for the Rest of 2017
- Lessons Learned from the Recent Hurricanes
- Maintaining Situational Awareness Is Essential with Today’s Cyber Threats
- Detecting and Preventing Ransomware Starts with Four Key Steps
- Director’s Report: Launching a New Office to Help You Grow
- Voluntary Diversity Assessments Due Dec. 30
- Encourage Your Members to Take Advantage of This Year’s Open Enrollment
- NCUA Cybersecurity Awareness Tips
In his column, McWatters outlines steps the agency has taken toward providing regulatory relief for credit unions, writing that the “need for a forward-looking regulatory structure that offers meaningful relief without undermining safety and soundness is quite clear.”
McWatters said the agency’s Regulatory Reform Task Force has been charged with identifying rules that:
- Eliminate jobs or inhibit job creation
- Are outdated, unnecessary or ineffective
- Impose costs that exceed benefits
- Create a serious inconsistency or otherwise interfere with regulatory reform initiatives and policies
The report published by that Task Force is summarized in the Federal Register notice.
Looking forward, McWatters said the agency will be reviewing additional rules in the coming years that include those related to investments, loan participations, credit union service organizations, third party due diligence, federal preemption, low-income designation, and others.
The NCUA Report’s articles are available in HTML format or an entire issue can be viewed as an interactive PDF file. Previous issues are available online here.