WASHINGTON--America’s Credit Unions is urging credit unions to weigh in on two NCUA proposals with comment deadlines fast approaching, while also reminding institutions that the window to submit feedback to ACU—so it can help shape the trade group’s own comment letters—is also closing quickly.
The two proposals address third-party vehicle loans and a review of the Economic Growth and Regulatory Paperwork Reduction Act.
Due May 26: Proposal to remove the regulation regarding third-party servicing of indirect vehicle loans. Part of NCUA’s Deregulation Project, it would eliminate net-worth-based concentration limits tied to purchases of indirect vehicle loans facilitated by any one third-party servicer, along with the associated waiver process and response timelines.
- Comments can be submitted to America’s Credit Unions through May 12
Due June 1: Request for comment to identify outdated or burdensome regulations under the Economic Growth and Regulatory Paperwork Reduction Act. It requests comment on regulations in the categories of “Corporate Credit Unions,” “Directors, Officers and Employees,” “Anti-Money Laundering and Bank Secrecy Act,” “Rules of Procedure,” and “Safety and Soundness.”
- Comments can be sent to America’s Credit Unions through May 18