CUNA suggests short, long-term exam improvements to NCUA

CUNA suggested several immediate improvements in the NCUA’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. 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,” reads CUNA’s letter. “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.

 

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