Federal Register - Credit Unions Proposals

Supervisory Committee Audits and Verifications

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AI Summary

• NCUA proposes to amend supervisory committee audit regulations to reduce burden and increase flexibility. • The changes aim to streamline the rules by removing outdated or redundant provisions.

Texas Relevance

The article does not explicitly mention Texas, TX, TCUD, or any Texas-specific entities. It is a general federal proposal applicable to all credit unions.

Original Content

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burden, increase operational flexibility for credit unions, and streamline the rules by removing requirements that are outdated or duplicative of other authorities.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 compromising the integrity of the audit process.