WASHINGTON, Dec. 11 -- National Credit Union Administration has issued a proposed rule called: Supervisory Committee Audits and Verifications.
The proposed rule was published in the Federal Register on Dec. 11 by Melane Conyers-Ausbrooks, Secretary of the Board.
Summary: The NCUA Board is proposing to amend its regulations governing supervisory committee audits to eliminate unnecessary, redundant, and overly prescriptive provisions. This action is necessary to reduce regulatory burden, increase operational flexibility for credit unions, and streamline the rules by removing requirements that are outdated or duplicative of other authorities. The intended effect of this proposal is to simplify compliance for credit unions without compromisin...