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McWatters Announces Goals for 2017
Monday, December 19, 2016 6:45 AM

McWatters

According to the CU Times, J. Mark McWatters will most likely remain on the board of the National Credit Union Administration. In this month's NCUA Report, he outlined a list of issues he would like to see tackled in 2017.

In his column, McWatters credited enhanced communications between his office and that of Chair Rick Metsger that will allow the agency to propose, adopt, and execute a number of changes.

“These initiatives have been well received, but there is more work that needs to be done to improve operations at NCUA and to allow well-managed credit unions greater flexibility consistent with the principles of safety and soundness,” McWatters wrote.

Several items of interest on his list include to:

  • Determine whether the risk-based capital rule should be revisited;
  • Examine ways to increase examination uniformity throughout the regions, and improve the examination-appeals process;
  • Consider establishing an NCUA Credit Union Advisory Council to hear directly from credit unions;
  • Review NCUA’s cybersecurity protocols;
  • Be more active with other agencies and the Financial Accounting Standards Board to ensure credit union differences are recognized;
  • Work with state regulators to enhance the dual-chartering system;
  • Ensure the agency’s priorities align with its budget expenditures through greater transparency; and
  • Work with Congress to update the Federal Credit Union Act to facilitate credit union operations and growth.

Source: NCUA Report