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Resources to help you navigate the changing regulatory landscape

National Credit Union Administration Board room.

NCUA’s Eighth Round of Deregulation Proposals

The National Credit Union Administration announced the eighth round of proposed regulatory changes associated with NCUA’s Deregulation Project. The project is an ongoing review of NCUA’s regulations to ensure regulations are focused on credit unions’ safety, soundness, and resilience.

With the announcement, NCUA is requesting comments on a proposal that would eliminate unduly burdensome requirements in the Code of Federal Regulations related to third-party servicing of indirect vehicle loans.

The Board proposes to remove defined limits on credit unions’ ability to purchase or participation in third-party auto loans.

Proposed Change

The Board proposes to remove limits on federally insured credit unions’ ability to purchase or participate in indirect auto loans serviced by a third party by removing sections § 701.21(h) and § 741.203(c).

  • Impact on credit unions: Removing these limits would reduce regulatory burden and allow credit unions and their boards greater flexibility to decide what amount of purchased indirect vehicle loans serviced by third parties is appropriate for the credit union’s size, the complexity of the transactions, and the board’s risk tolerance.

For More Information

For more information, email Lisa Quaranta.

Access the ‘Compliance Hotline’

Your League-member benefits include the Compliance Hotline — providing exclusive access to dedicated compliance experts:

Using the above phone number and email address, you can gain access to a knowledgeable team that’s ready to address all your credit union’s compliance inquiries — promptly and efficiently. With the Compliance Hotline, you can proactively respond to impromptu questions and issues by getting clarity and insight on technical topics that normally slow you down. We want to help you unlock the full potential of your League membership by leveraging the resources and support you need to navigate the complex world of compliance effortlessly. We’re ALWAYS just a phone call or email away!

Additionally, other League-member compliance resources include:

  • ViClarity
  • CU PolicyPro
  • ComplySight
  • InfoSight
  • CU Store
  • Record Retention Guide
  • GRC Technology Solutions

For more information, email Lisa Quaranta.

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