Unleashing a new era of streamlined governance, the National Credit Union Administration (NCUA) has officially launched its “Deregulation Project”—a sweeping review of Title 12, Chapter VII aimed at slashing obsolete, duplicative, or unnecessarily burdensome rules that do not bolster safety or soundness.
The initial wave of proposed changes includes clearer, more flexible standards for corporate credit unions, supervisory committee audits, and member-data protection guidelines. These targeted updates are designed to help sharpen focus, reduce red tape, and invite stakeholder feedback through the Federal Register. This initiative signals a commitment to empower credit unions and help foster resilience in today’s dynamic financial landscape.
How Forvis Mazars Can Help
Our credit union team has extensive experience providing accounting, audit, and consulting services to credit unions ranging in assets from $50 million to more than $15 billion. If you have any questions or need assistance, please reach out to a professional at Forvis Mazars.