Compliance Blog

January NCUA Newsletter Available; And the Winner Is...

NCUA recently released its January 2008 newsletter.  You can access it here.   Of note, the newsletter details NCUA's 2008 regulatory review.  NCUA states the following:

NCUA reviews all regulations every three years to “update, clarify and simplify existing regulations and eliminate redundant or unnecessary provisions,” in compliance with IRPS 87-2, Developing and Reviewing Government Regulations. The Office of General Counsel reviews one-third of the regulations each year, identifying those we think should be amended.

While NCUA may review or revise other regulations as well, NCUA is scheduled, in 2008, to review the second third of its regulations, Parts 711 2008 regulation review through 747, to make recommendations for amendments. The following four regulations have been identified for possible amendments:
• Part 712 Credit Union Service Organizations
• Part 721 Incidental Powers
• Part 723 Member Business Loans
• Part 740 Advertising

Those are fairly meaty regulations.  Stay tuned.

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The First Annual NAFCU Compliance Blog Holiday Decoration Contest winner is "Blue Christmas." First of all, you have to appreciate people that decorate themselves. Also, how can you argue against the King? For all of you who participated, thank you. Thank you very much.

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For those who are calling me today, here's a good barometer of my mood:  the score of Saturday's Steelers-Jags game.   Hint: I'm a Steelers fan.

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