Regulatory Publication and Voluntary Review as Contemplated by the Economic Growth and Regulatory Paperwork Reduction Act of 1996

Résumé

As contemplated by the Economic Growth and Regulatory Paperwork Reduction Act of 1996 (EGRPRA), the NCUA Board (Board) is voluntarily reviewing agency regulations to identify rules that are outdated, unnecessary, or unduly burdensome on federally insured credit unions. The NCUA is not statutorily required to undertake the EGRPRA review; however, the Board has elected to participate in the decennial review process. The NCUA divided its regulations into 10 categories outlined in the included chart. Over the next 2 years, the NCUA will publish four Federal Register documents each requesting comment on multiple categories of regulations. This first Federal Register document requests comment on regulations concerning the following two categories: "Applications and Reporting," and "Powers and Activities." The NCUA will address the remaining eight categories in the next three documents.