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NCUA staff today will update NAFCU Regulatory Committee members on the bylaws modernization initiative. NAFCU has offered several suggestions to improve the bylaws in an effort to reduce credit unions' regulatory burdens and provide increased operational flexibility.

Some of NAFCU's recommendations include:

• updating the bylaws to reflect the current procedure for submitting amendments to the Office of Credit Union Resources and Expansion (CURE), rather than regional directors;
• preserving the limitations of services provision in its current form to afford credit unions with the flexibility to craft a policy that best suits their needs;
• affording greater flexibility to nominating committees in the election of directors;
• permitting the use of technological resources to increase member attendance at annual and special meetings; and
• removing portions of the bylaws that overlap with existing NCUA regulations.

Following today's meeting, the NAFCU Regulatory Committee will meet again Oct. 16.