NCUA updates offsite examination and supervision approach

NCUA headquarters

NCUA’s latest Letter to Credit Unions (20-CU-17) provides an update to the agency’s offsite examination and supervision approach due to the ongoing coronavirus disease (COVID-19) pandemic. According to NCUA, the changes to NCUA’s examination and supervision approach are effective June 1.

NCUA’s offsite policy for all employees and contracted support staff will remain in effect until further notice. Generally, NCUA staff will not schedule onsite examination work until further notice.

Examiners will also be mindful of the impact information requests may have on a credit union experiencing operational and staffing challenges associated with the COVID-19 pandemic.

NCUA will issue examination reports for examinations completed offsite.

 

continue reading »

More News