NAFCU sees opportunities in NCUA call report initiative

NCUA should prioritize reducing credit unions’ regulatory burden in its planned call report modernization efforts, NAFCU Senior Regulatory Affairs Counsel Michael Emancipator told the agency Friday.

Writing in response to NCUA’s request for information on modernizing its data collection, Emancipator noted NAFCU’s support of NCUA’s overall enterprise solution modernization program and, in particular, its planned revision of the call report and the Form 4501A Profile. He also noted NAFCU’s appreciation for the agency’s commitment to transparency and industry participation.

“NAFCU is optimistic for the opportunities that an updated Call Report could present,” Emancipator wrote. “For example, an updated Call Report could provide NCUA with a more accurate picture of individual credit union health.

“This would enable NCUA examiners to conduct more thorough pre-exam reviews, and thus decrease the amount of time spent on-site, or at least decrease the amount of examiner-requested documentation,” he continued.

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