Tuesday, April 26, 2011 11:59:00 AM
NCUA Board Chairman Debbie Matz has posted a video on the agency's Web site to provide tips for writing effective comment letters. Last Thursday, Matz stated at a Board meeting, "In crafting new rules and rewriting existing ones, NCUA recognizes the need to adopt sensible regulations."
She went on to say, "If credit unions want a voice in the regulatory process, comment letters on a proposed rule are an important way to influence the content of the final rule. Comment letters also assist us in fine-tuning and improving regulatory proposals. So, comments really do matter."
Below are Matz's four tips:
- Read Proposed Rules and Other Comments - Visit www.ncua.gov to find information about each NCUA proposed rule and the deadline for comments. (Click Comment on a Proposed Regulation.) Prospective commenters can also use the NCUA Web site to view already submitted comment letters written by other stakeholders.
- Decide Whether You Support or Oppose - Commenters may choose to support certain provisions and oppose others, or choose to support or oppose the entire proposal.
- Consider Unintended Consequences - Read the Preamble of each proposed rule to understand NCUA's intent. Think about changes that credit unions might have to implement in order to comply with the proposal, then write to NCUA about any unintended consequences the rule might create.
- Propose Alternative Solutions - Commenters who oppose a proposed rule, whether in whole or in part, are encouraged to propose reasonable alternatives.
The video can be found at: http://www.youtube.com/watch?v=G9UZfmVQdWk.