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| Outlining priorities with NCUA Chairman |
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As part of America’s Credit Unions ongoing outreach with NCUA Chairman John Crews as his tenure in the role begins, President/CEO Scott Simpson outlined a comprehensive overview of current regulatory priorities in a letter sent Monday.
Addressing several topics, the letter offers recommendations that would help ease burdens on credit unions. Some topics include:
• Capital reform and regulatory capital parity;
• Risk-focused examinations, CAMELS reform, and relief for small credit unions;
• Modernization of field of membership rules and de novo chartering improvements;
• Innovation and fintech investment authority;
• Stablecoin implementation;
• Bank Secrecy Act and anti-money laundering regulation modernization; and
• Continuation of the agency’s Deregulation Project.
A comprehensive appendix included in the letter identifies roughly 30 additional regulatory and supervisory issues for the NCUA to consider.
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