ONTARIO, Calif. (5/17/13)--The California and Nevada Credit Union Leagues have launched PowerComment, an interactive online tool designed to help credit unions in the two states more efficiently express their compliance concerns to regulators.
"We want to encourage credit unions to comment on proposed rules, and make it easy for them to do so, in an effort to minimize the impact of final regulations," said Sharon Lindeman, the leagues' vice president of regulatory advocacy. "When we spend the time up front and comment on proposals, we can help shape the rules and try to stop overly burdensome directives later."
PowerComment.org will allow credit unions to:
- Find up-to-date and easily digestible information on proposed rules, including a summary of pending regulations and potential financial, operational and member service impacts;
- Participate in discussions to increase their understanding of proposed regulatory rules; and
- Write comment letters to regulators and immediately submit them.