NCUA Exam Workgroup Recommendations Released
October 6, 2016
October 6, 2016
According to an announcement this morning, a National Credit Union Administration work group tasked with recommending changes to the regulator’s exam process is ready to share its findings.
The extended exam cycle is one of 10 recommendations the agency’s Exam Flexibility Initiative working group included in a report now available online. A comprehensive list of frequently asked questions and a summary of stakeholder comments are also available on the Exam Flexibility Initiative’s webpage.
“We are grateful to Chair Metsger, and the NCUA staff, who heard valid concerns from our members and took practical action to streamline the examination process,” added John Trull, AVP for Regulatory Advocacy for NWCUA. “Easing regulatory burden has been, and will continue to be, a top priority for our members.”
“NCUA is committed to improving operations, responding to change, and finding ways to meet the needs of the credit unions we regulate while protecting the members whose money we insure,” NCUA Board Chairman Rick Metsger said. “We want to be more efficient and more effective while always putting safety and soundness first. We launched this initiative last May as part of the continual quality improvement program, and the working group has been diligent about gathering information and suggestions from credit union stakeholders throughout the process. I am looking forward to discussing the working group’s recommendations at our next Board meeting.”
Click here for the full report from NCUA.
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