McWatters Plans Full Reg. Review

ALEXANDRIA, Va. – In his first NCUA Report column as NCUA Acting Chairman, J. Mark McWatters says he plans a “full regulatory review” with the goal of “empowering credit union innovation while lifting unnecessary regulations and streamlining others.”

McWatters also outlined plans for a top-to-bottom review of the agency to determine what works, what doesn’t and where it can improve, and to seek greater control over the agency’s budget and resource allocation process.

“Too often, NCUA has assumed that if the rules we have on the books aren’t working the way they should, we should add more,” McWatters wrote. “As Board Member Metsger and I have demonstrated over the past few months, we are going to approach the regulatory process in a more analytical, more practical and more mindful manner. Smarter regulation and supervision is the right approach.”

in Compliance & Regulatory News