Idaho Department of Finance Begins to Review Idaho Credit Union Act Rules in Accordance with Governor Little’s Zero-Based Regulation Initiative

Posted by Zach Forster on August 24, 2023

On August 24, the Idaho Department of Finance started the process of reviewing the rules governing the Idaho Credit Union Act. This process is in accordance with Governor Brad Little’s Executive Order 2020-01, which he signed in 2020 that mandates all State of Idaho agencies to open their rules and remove anything that is no longer applicable or necessary. Governor Little started this process early in his administration, through the Red-Tape Reduction Act. During this process, Idaho gained national recognition for removing nearly 75% of Idaho’s regulation for all industries. More specifically, they eliminated 250 rule chapters, 1,804 pages of regulation, and nearly 31,000 restrictions. This program was so successful, Governor Little continued it the following year with his Zero-Based Regulation Initiative.

GoWest has been working diligently with the Department of Finance on this process and continues to push to eliminate and streamline processes and procedures to help Idaho’s credit unions become more efficient and successful. Following the hearings, these changes will be presented to the Idaho legislature for approval at the start of the 2024 legislative session.

Posted in Advocacy on the Move.