WASHINGTON—CUNA Tuesday sent NCUA its comment letter regarding the agency’s Economic Growth and Regulatory Paperwork Reduction Act (EGRPRA).
In a letter signed by Andrew Price, senior director of advocacy and counsel, CUNA said it appreciates that NCUA has elected to voluntarily participate in the EGRPRA review process, although the agency does not technically fall within EGRPRA’s definition of an “appropriate Federal banking agency.”
“We further commend the NCUA’s willingness to identify opportunities to reduce regulatory burden while maintaining continued safety and soundness of credit unions,” wrote Price.
CUNA provided comments on six areas:
- Uniform rules of practice and procedure
- Lending
- Examinations
- Security programs
- Guidelines for safeguarding member information and responding to unauthorized access to member information
- Liquidity and contingency funding plans
The complete letter can be found in CUToday.info’s The gov.