Board Action Bulletin
ALEXANDRIA, Va. (March 15, 2018) – The National Credit Union Administration Board held its third open meeting of 2018 at the agency’s headquarters here today and unanimously approved two items:
Credit union stakeholders have an opportunity to comment on possible changes to the standard federal credit union bylaws following the Board’s approval of an advance notice of proposed rulemaking.
The Board is considering a number of significant changes to the standard bylaws to provide credit unions with greater flexibility in their operations and reduce regulatory compliance burdens. Under the Federal Credit Union Act, the NCUA Board is required to have a standard set of bylaws prospective credit unions can use in order to simplify the incorporation process. The agency’s Regulatory Reform Task Force has recommended that changes to the bylaws may be necessary, as they have not been updated in nearly 10 years.
The Board will accept general comments and is requesting specific comments on five questions:
Stakeholders requesting a specific change to a provision of the standard bylaws should provide a brief statement regarding whether the Federal Credit Union Act would permit such a change. Some provisions of the standard Federal Credit Union Act bylaws are drawn directly from the law, and, therefore, may not be legally amended.
The advance notice of proposed rulemaking is available online here (opens new window). Comments must be received with 60 days of publication in the Federal Register.
The NCUA Board also is seeking comments on a proposal to adopt contractor suspension and debarment procedures as part of its effort to modernize its procurement process.
The NCUA is not required to follow federal government acquisition laws and regulations, but the agency believes those include best practices, and suspension and debarment procedures have proven to be an important part of government procurement. These procedures would protect the agency by helping ensure the NCUA and other executive-branch agencies do business only with presently responsible contractors.
Comments on this proposal, available online here (opens new window), must be received with 60 days of publication in the Federal Register.
The NCUA tweets all open Board meetings live. Follow @TheNCUA (opens new window) on Twitter, and access Board Action Memorandums and NCUA rule changes at www.ncua.gov. The NCUA also live streams, archives and posts videos of open Board meetings online.
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