Association Urges Exam Improvements in Letter to NCUA
August 5, 2016
August 8, 2016
Thanks to the collective work and action of credit unions across the Northwest—and nationwide—there is a critical opportunity to reshape the national regulatory landscape through changes to the examination process. And once again, Northwest credit unions have a chance to make their voice part of that movement.
In a letter to the National Credit Union Administration recently, NWCUA officials urged continued improvements to the Exam Flexibility Initiative, established earlier this year by Chair Rick Metsger.
“Chair Metsger’s Exam Flexibility Initiative is critical to modernizing the NCUA,” added John Trull, AVP of Regulatory Advocacy for NWCUA. “The exam program is NCUA’s primary tool to ensure the safety and soundness of the credit union.”
“A modern exam system allocates resources effectively and efficiently, utilizes technology to enhance off-site work, creates a flexible exam cycle, and improves operations,” the letter read, before offering a short list of key recommendations.
Trull also noted that NWCUA was “seeking input from stakeholders to ensure that industry perspectives are incorporated.” Though the NCUA initially reported that the feedback deadline was August 1, they have since announced that comments will be accepted on a rolling basis, according to reporting from CUNA.
To get involved and add your voice to the movement, credit unions can provide detailed feedback and examples on how the examination process can be improved. Contact John Trull at 503-350-2209 or email@example.com to do so.
Questions about this story? Contact Eric Horvath: 503.350.2222, firstname.lastname@example.org.