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NCUA issues request for information

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Inside the Beltway, Legislation
Thursday, January 7, 2021
The National Credit Union Administration (NCUA) approved a request for information (RFI) seeking comments and information on the agency’s communication methods.

“This request for information seeks public input on how the agency can streamline and improve its communications with our stakeholders,” NCUA Chairman Rodney Hood said in a release. “Outdated or duplicative regulatory and supervisory information adds to the overall regulatory burden of credit unions as they must devote time and resources to sorting through this information.”

Specifically, NCUA is seeking public input on how to make communications with federally-insured credit unions more efficient, consistent, and clear to minimize regulatory and operation burdens.

The RFI also requests suggestions from stakeholders on initiatives that would maximize efficiency and minimize burdens associated with obtaining information on federal laws, regulations, policies, guidance, and other materials relevant to federally-insured credit unions.

“We recognize that the amount of information the NCUA provides to credit unions can create challenges and may impose unintended burdens,” Hood said. “This request for information addresses this concern and continues my mission to ensure NCUA’s regulation of credit unions is effective, not excessive.”

Comments on the RFI will be accepted for 60 days after its publication in the Federal Register.

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