WASHINGTON, DC (May 22, 2014) -- National Association of Federal Credit Unions (NAFCU) Senior Vice President of Government Affairs and General Counsel Carrie Hunt issued the following statement in response to the National Credit Union Administration (NCUA) Board’s issuance of a request for comments today in carrying out a requirement of the Economic Growth and Regulatory Paperwork Reduction Act:
“NAFCU welcomes this opportunity for credit unions to provide the agency their input on which of NCUA’s regulations are outdated, unnecessary or unduly burdensome,” said Hunt. “We have been engaged in ongoing discussion with the agency on how to lighten credit unions’ regulatory burden while upholding safe, sound credit union operations and look forward to submitting comments. As we press for eased regulatory burden, NAFCU will also continue to press for action on our ‘dirty dozen’ list of rules that we believe could easily be revised or eliminated.
“We were also pleased to hear NCUA’s assessment of the Temporary Corporate Credit Union Stabilization Fund during today’s open board meeting. NAFCU remains supportive of any steps the agency may take to ensure credit unions will not have to pay a penny more to the stabilization fund, and we continue to encourage the payment of a rebate to credit unions on the funds they have already paid in once the fund expires in 2021.”
About Us: The National Association of Federal Credit Unions is the only national organization that focuses exclusively on federal issues affecting credit unions, representing its members before the federal government and the public.