NCUA will comply with ‘spirit’ of controversial OMB memo

In its first comment on the new policy, the NCUA said that it is agency policy to comply with such memos or orders when it can.

NCUA headquarters

The NCUA intends to comply “in spirit” with a new and controversial Office of Management and Budget policy that could give President Trump direct control over independent agency rules and guidance.

That new policy, outlined in a memo last month, requires independent agencies to submit proposed rules and guidance to OMB before they are issued. And it requires that the submission contain a cost-benefit analysis.

The Congressional Research Service this week issued a report saying that the new policy would give the Trump Administration unprecedented power over federal regulatory agencies.

In its first comment on the new policy, the NCUA said that it is agency policy to comply with such memos or orders when it can.

 

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