Go to:

September 2018
< Aug Oct >
Leaguer Email Subscription

You are not currently subscribed. Click Subscribe below to receive the Leaguer email.

CUNA Suggests Exam Improvements to NCUA
Thursday, August 4, 2016 6:45 AM

Credit Union National Association suggested several immediate improvements in the National Credit Union Administration's examination procedures in a letter sent to the agency this week. The letter was sent in response to the NCUA’s recent request for input on through its Exam Flexibility Initiative.

“We encourage NCUA to tackle the supervision improvement process in two stages,” reads CUNA’s letter. “First, NCUA should determine what the agency can implement immediately or no later than the 2017 examination cycle to provide immediate supervisory relief for most credit unions. The second stage should focus on long-term solutions in the supervisory process that would require updates to systems, processes, and staffing to fully implement.”

Suggested short-term goals include:

  • Extending the examination cycle;
  • Right-sizing examination staff; and
  • Eliminating duplicative and overlapping exam procedures with state-chartered examinations by enhancing coordination with state supervisory authorities.

Suggested long-term goals as the agency reviews and designs a new supervisory scheme include:

  • Improve the data and information collected from credit unions;
  • Decrease the burden on credit unions from the supervisory process; and
  • Continue to improve the efficiency of the examination process with the goal of reducing resources needed to supervise credit unions.

As part of the Exam Flexibility Initiative, NCUA is accepting comments on its call reports through Aug. 15.

To view the Cornerstone comment letter from SVP Regulatory Compliance Counsel Suzanne Yashewski, please visit the Cornerstone Comment Letter Repository. If you need help in crafting your own letters, or if you have questions, please contact or 512-853-8516.