REGULATORY COMMITTEE CHARGE

To monitor and review all proposed regulations affecting federal credit unions. Evaluate comments on these proposals and develop appropriate responses for consideration of approval by the NAFCU Board. Seek comments from member credit unions as appropriate on proposed regulations. Encourage members to respond to all requests for comments on proposals. Review and study existing regulations to ascertain the need for possible updates or changes. Recommend broad policy positions on regulatory issues affecting credit unions to the NAFCU Board.

To evaluate and oversee the effectiveness of NAFCU's Regulatory Compliance Program, ensuring that these services meet member needs. Provide input on products and services to benefit members.

In addition to the above, the committee will review and make recommendations to the NAFCU Chair for appointment to outside entities, such as:  Thrift Institutions Advisory Council (TIAC), Consumer Advisory Council (CAC), Financial Accounting Standards Council, Appraisal Foundation Advisory Board, among others.

Ordinarily the Committee Chair should permit non-committee members who ask to do so to participate in committee meetings, but the Committee Chair retains the prerogative to close the committee meeting if necessary.

Committee action items are to be submitted quarterly at each NAFCU Board of Directors meeting.

Position Description for Committee Candidates:

• Knowledge of or familiarity with federal regulations applicable to federal credit unions, including regulations affecting credit union service organizations (CUSOs).
• Ability and willingness to participate in regular conference calls and/or meetings to discuss regulatory issues.
• Willingness to express viewpoints and provide input on regulatory issues, including solicitations for comment on regulatory proposals and review of association's draft comment letters.