The National Credit Union Administration (NCUA) has announced the initial phase of its Deregulation Project, an initiative aimed at reviewing and potentially revising existing regulations. This effort is in response to Executive Order 14192, "Unleashing Prosperity Through Deregulation."
The project will involve a comprehensive review of regulations under Title 12, Chapter VII of the Code of Federal Regulations. The NCUA stated that the goal is to ensure these rules focus on maintaining the safety, soundness, and resilience of credit unions. The agency will consider changes or removal of regulations that are obsolete, duplicative of statutory requirements, intended as guidance rather than requirements, or considered overly burdensome.
As part of this process, the NCUA is seeking public comments on four proposed regulatory changes published in the Federal Register:
- Changes for Corporate Credit Unions: The proposal would amend regulations by removing the requirement that a corporate credit union’s asset and liability management committee (ALCO) must include at least one member from its board of directors. Details are available at https://www.federalregister.gov/public-inspection/2025-22487/corporate-credit-unions.
- Changes for Supervisory Committee Audits and Verifications: This change aims to eliminate unnecessary and redundant provisions in supervisory committee audit rules. More information can be found at https://www.federalregister.gov/public-inspection/2025-22488/supervisory-committee-audits-and-verifications.
- Changes for Guidelines for Safeguarding Member Information: The NCUA proposes to remove Appendix A to part 748 from federal regulations. Further details are provided at https://www.federalregister.gov/public-inspection/2025-22489/guidelines-for-safeguarding-member-information.
- Changes for Guidance on Response Programs for Unauthorized Access to Member Information and Member Notice: This proposal seeks to remove Appendix B to part 748 regarding response programs for unauthorized access to member information. For more information see https://www.federalregister.gov/public-inspection/2025-22490/guidance-response-programs-for-unauthorized-access-to-member-information-and-member-notice.
Stakeholders are encouraged to review these proposals and submit comments through the Federal Rulemaking Portal by searching with relevant docket numbers.
The NCUA serves as an independent federal agency responsible for regulating, chartering, and supervising federal credit unions in the United States. It manages the National Credit Union Share Insurance Fund, which insures deposits for over 143 million account holders across all federal credit unions and most state-chartered credit unions.
For further details about the Deregulation Project, visit https://ncua.gov/news/deregulation-project.