WA DCU Issues Bulletin Regarding Website Compliance Exams
Also, this week’s legal briefs from around the Federal landscape, and your compliance question answered.
Also, this week’s legal briefs from around the Federal landscape, and your compliance question answered.
The public review preceded a Board vote on the agency’s two-year budget, scheduled for Nov. 17. Public comment may be submitted until Nov. 4.
The Exam Flexibility Initiative was announced earlier this year, and seeks to streamline exam processes for well-managed, low-risk credit unions.
Chair Metsger established the exam flexibility initiative, requesting input from stakeholders. Now is your chance to add your voice and influence the debate.
The meeting also featured a quarterly update on the National Credit Union Share Insurance Fund.
Exam Flexibility Initiative looking to collect experiences and ideas from credit unions.
CUNA’s Annual Regulatory Exam Survey no longer relies on a deadline, but that doesn’t lessen the importance of exam results, which help NWCUA advocate for membership and ensure the examination process is operating well.
Credit unions are hopeful that new examination leadership will bring Northwest exams in line with other regions.
Priorities are similar to last year, including cyber security, interest rate risk, and money servicing businesses.
Northwest credit unions fought for fair regulations on risk-based capital and many other fronts in 2014, notching substantial victories.
Simple new exam form lets regulatory advocates see where exam improvements are needed.
CUNA and the Northwest Credit Union Association are calling on credit unions to complete the second-annual Comprehensive Survey on Regulatory Exams, saying a strong response rate will give advocates the data they need to push for improvements in the examination process.
A new bulletin from the Washington State Department of Financial Institutions’ Division of Credit Unions explains an enhanced compliance examination program that will affect Washington State-chartered credit unions with assets of more than $500 million.
Your weekly update on the regulatory landscape.
Credit union league and association leaders met with representatives from NCUA Region V this week to discuss mutual concerns and work to modify the examination process for all credit unions.
The NCUA released Letter to Federal Credit Unions 13-FCU-02 Tuesday, which outlines a number of developments in the NCUA’s Fair Lending Examination Program, including new educational and compliance tools and the institution of off-site supervision contacts in certain instances.
The NCUA outlined its primary areas of focus for examiners in the January edition of the NCUA Report, and the agency also plans to provide more information and better guidance to credit unions to clearly set exam expectations.
The NCUA confirmed that credit unions with less than $10 billion in assets will see their examination hours reduced after the Office of National Examinations and Supervision becomes operational on Jan. 1, 2013.