The NCUA Board is requesting comments on the sixth round of proposed regulatory changes under the NCUA Deregulation Project. The comment period ends on April 27, 2026, at 11:59 p.m. Eastern.
The proposals would clarify agency guidance or remove unnecessary, redundant, overly prescriptive, obsolete, or unduly burdensome requirements in the Code of Federal Regulations, including:
- 12 CFR Part 701.4, Post-Election Training for New Board Members — Currently, this regulation requires federal credit union directors to attain a working familiarity with finance and accounting within six months after election or appointment. The Board is proposing to eliminate this requirement. Requiring new federal credit union directors to receive specific training in a certain period may be unduly burdensome and inadvertently undermine the ability of a credit union’s members to elect their board.
- 12 CFR Part 701.21, Compensation in Connection with Loans to Members and Lines of Credit to Members — The NCUA Board seeks to amend 12 CFR 701.21(c)(8), which establishes a blanket prohibition on the direct or indirect receipt of any commission, fee, or other compensation by a federally insured credit union official, employee, or their immediate family members, in connection with any loan made by their federally insured credit union.
- 12 CFR Part 701.23, Purchase, Sale, and Pledge of Eligible Obligations — The proposed revisions would retain the requirement that a credit union must have policies that address eligible obligations, but it would remove the prescriptive lists of items that must be addressed in written policies.
- 12 CFR Part 701.24, Refund of Interest — This proposal would reduce regulatory burden by limiting the number of sources that federal credit unions must check to ensure compliance with laws and regulations.
- 12 CFR Part 701.26, Credit Union Service Contracts — The Board proposes to rescind 12 CFR 701.26, which outlines the authority for a federal credit union to enter into contracts for assets or services that relate to its daily operations with other credit unions and organizations.The regulation’s principal requirement—that such agreements be in writing—is a standard business practice, which exists regardless of whether it is mentioned in the NCUA’s regulations.
- 12 CFR Part 701.39, Statutory Liens — 12 CFR 701.39(a)(1) defines the phrase “except as otherwise provided by law or except as otherwise provided by federal law.” The NCUA Board proposes to remove the definition of this phrase because the language is unnecessary and obvious.
For more information or to submit a comment, please visit Regulations.gov.
For more information about the NCUA Deregulation Project, visit: https://ncua.gov/news/deregulation-project
Comments on Deregulation Project Proposals Due April 27
The NCUA Board is requesting comments on the sixth round of proposed regulatory changes under the NCUA Deregulation Project. The comment period ends on April 27, 2026, at 11:59 p.m. Eastern.
The proposals would clarify agency guidance or remove unnecessary, redundant, overly prescriptive, obsolete, or unduly burdensome requirements in the Code of Federal Regulations, including:
For more information or to submit a comment, please visit Regulations.gov.
For more information about the NCUA Deregulation Project, visit: https://ncua.gov/news/deregulation-project