NAFCU April Economic & CU Monitor on NCUA Regulatory Priorities
WASHINGTON, DC (April 25, 2017) — Good afternoon,
Attached is NAFCU’s April Economic & CU Monitor, which includes an “Industry and Economic Briefing” overview from NAFCU Chief Economist and Director of Research Curt Long, who is available for interview. The April Monitor features an in-depth look at the NCUA’s Regulatory Priorities. Highlights follow below.
Industry and Economic Briefing
- The credit union industry continues to experience strong member, loan, and share growth, and the outlook for future growth remains positive.
- The Fed appeared to be preparing for another rate hike in June, but that may have to be put on hold if the economic data fails to strengthen between now and then.
Special Topic – NCUA Regulatory Priorities
- With respect to Chairman [J. Mark] McWatters’ list of 15 priorities, the following three are most important to credit unions: reviewing NCUA’s examination processes and procedures (47.1 percent); revisiting the risk-based net worth (RBNW) rule (47.1 percent); and exploring the potential for a merger of the Temporary Corporate Credit Union Stabilization Fund into the National Credit Union Share Insurance Fund (35.3 percent).
- Respondents also highly prioritize seeking updates to the Federal Credit Union Act; NCUA working more closely with other agencies to ensure credit unions’ unique attributes are not overlooked; and final revisions to the field-of-membership rule (29.4 percent, respectively).
- Asked what credit unions would like to see most out of NCUA examination reform, 58.3 percent of respondents said increased exam intervals, particularly for credit unions with strong CAMEL ratings.
If you’d like further comment from Curt Long, please let me know.
About NAFCU
The National Association of Federally-Insured Credit Unions is the only national trade association focusing exclusively on federal issues affecting the nation’s federally-insured credit unions. NAFCU membership is direct and provides credit unions with the best in federal advocacy, education and compliance assistance. For more information on NAFCU, go to www.nafcu.org or @NAFCU on Twitter.
