The National Credit Union Administration (NCUA) is extending and revising the information collections it previously approved with the Office of Management and Budget (OMB) as required by the Paperwork Reduction Act of 1995. The collection includes forms related to chartering, field of membership amendments, and conversions concerning federal credit unions. Public comments on this collection are invited until January 13, 2025, and may be submitted online. The NCUA notes that an increase in applications for new charters and expansions has resulted in a higher burden in terms of time spent on these processes.
Simple Explanation
The people who watch over credit unions want to keep doing some paperwork to check on how credit unions are doing. They’re asking people to let them know what they think about this paperwork until January 2025 because more credit unions want to start or grow.