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NCUA Streamlines Examination Report
Wednesday, October 9, 2013 6:35 AM

The National Credit Union Administration has issued an “Examination Report Modernization” letter to credit unions. Addressed to credit union board of directors and the CEO, NCUA Letter 13-CU-9 outlines all of the improvements in the examination report, and why it’s part of NCUA Chair Debbie Matz’ Regulatory Modernization Initiative. 

“We are acting to streamline the examination report, better clarify the priority exam action items to be resolved, reduce redundancy, and ensure consistency,” explains Matz in the October letter. “Before making these improvements, we considered feedback from credit union industry officials, along with specific report recommendations by the Government Accountability Office (GAO) and NCUA’s Office of Inspector General (OIG).”

Credit unions can real the latest letter on the NCUA’s website. According to the letter, full implementation will begin with examinations started on or after January 1, 2014.