The NCUA board unanimously approved issuing a advance notice of proposed rulemaking on changes to federal credit union bylaws at its Thursday board meeting. According to NCUA, the board is considering “a number of” significant changes to standard bylaws to provide greater operational flexibility and a reduction of regulatory compliance burdens.
The agency’s Regulatory Reform Task Force has recommended that changes to the bylaws may be necessary, as they have not been updated in almost 10 years.
The board will accept general comments on bylaws, and has also requested commentson the following questions:
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