Hunt: Extended exam cycle should be ‘high priority’ at NCUA

NAFCU’s Carrie Hunt yesterday welcomed the prospect of action soon at NCUA to eliminate the strict calendar-year exam cycle and reiterated the need to make an extended exam cycle a high priority.

NCUA Board Chairman Rick Metsger, during an open board meeting discussion covering call report modernization and the exam cycle, said he hopes to see the calendar-year exam cycle addressed in a strategic plan update this summer. He said the board could vote by July 2 to eliminate strict calendar-year exams for all federal credit unions and for federally insured state-chartered credit unions with more than $250 million in assets.

“I am hopeful to have the final strategic plan vote by July 2 to limit the calendar year requirement and put those building blocks in place so we can execute this the next exam cycle,” Metsger said after a discussion with NCUA Office of Examination and Insurance Director Larry Fazio and other staff.

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