The National Credit Union Administration (NCUA) has announced the initial phase of its Deregulation Project, which aims to review and revise existing regulations. This effort is in response to Executive Order 14192, titled “Unleashing Prosperity Through Deregulation.” The agency is inviting stakeholders to review the proposed changes and provide feedback.
The NCUA’s project will conduct a thorough evaluation of rules outlined in Title 12, Chapter VII of the Code of Federal Regulations. The goal is to ensure that regulations support the safety, soundness, and resilience of credit unions. Proposed changes will focus on eliminating rules considered obsolete, duplicative of statutory requirements, intended as guidance rather than mandates, or overly burdensome.
The agency has put forward four proposals for public comment:
1. Amendments for Corporate Credit Unions – 12 CFR 704.8 and 704.15: The NCUA proposes removing the requirement that a corporate credit union’s asset and liability management committee must include at least one member from the board of directors. More information can be found at https://www.federalregister.gov/public-inspection/2025-22487/corporate-credit-unions
2. Changes for Supervisory Committee Audits and Verifications – 12 CFR 715: The proposal would eliminate unnecessary or redundant provisions in regulations governing supervisory committee audits. Further details are available at https://www.federalregister.gov/public-inspection/2025-22488/supervisory-committee-audits-and-verifications
3. Guidelines for Safeguarding Member Information – 12 CFR 748 Appendix A: The NCUA seeks to remove this appendix from federal regulations, which currently provides guidelines on safeguarding member information. See https://www.federalregister.gov/public-inspection/2025-22489/guidelines-for-safeguarding-member-information
4. Guidance on Response Programs for Unauthorized Access to Member Information – 12 CFR 748 Appendix B: The agency proposes deleting this appendix concerning response programs for unauthorized access to member data and related notifications. Details are provided at https://www.federalregister.gov/public-inspection/2025-22490/guidance-response-programs-for-unauthorized-access-to-member-information-and-member-notice
Stakeholders are encouraged to submit comments by searching docket numbers through the Federal Rulemaking Portal.
According to the NCUA, “The NCUA is the independent federal agency created by the U.S. Congress to regulate, charter and supervise federal credit unions. With the backing of the full faith and credit of the United States, the NCUA operates and manages the National Credit Union Share Insurance Fund, insuring the deposits of more than 143 million account holders in all federal credit unions and most state-chartered credit unions.”
For additional details about this initiative, visit https://ncua.gov/news/deregulation-project
