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NASCUS has submitted a comment letter to the NCUA regarding the agency’s proposed amendments to 12 CFR Part 741, Requirements for Insurance.
NASCUS supports the NCUA’s efforts to streamline regulations and reduce unnecessary burden. However, we caution that removing certain cross-references from Part 741 could have the opposite effect for federally insured state-chartered credit unions (FISCUs).
In the letter, NASCUS explained that Part 741 currently serves as a practical roadmap, helping credit unions, state regulators, compliance officers, and examiners identify which NCUA rules apply to state-chartered institutions.
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