The NCUA will give credit union stakeholders a chance to comment on the agency’s proposed 2017-18 budget in October, Chair Rick Metsger announced Wednesday. During the briefing, CUNA and other stakeholders will have the opportunity to present their views.
The NCUA hopes to have changes in place to the examination cycle by 2017, Chair Rick Metsger said in a letter sent Wednesday to Rep. Jeb Hensarling (R-Texas), chair of the House Financial Services Committee.
The NCUA board will conduct a briefing on adding S (for sensitivity risk) to its CAMEL rating system at its June 16 board meeting. The meeting also includes an interim final rule on statutory inflation of civil money penalties.
As mentioned by NCUA Chair Rick Metsger at the agency’s last meeting, a request for information on modernizing data collection has been published in the Federal Register. Comments are due to the agency Aug. 1.
Input from credit union leaders and CUNA has been essential to the NCUA’s recent efforts to modernize the examination system, and it will be needed in the future, said CUNA Chief Advocacy Officer Ryan Donovan.
CUNA will be at the forefront of the conversation as the NCUA commences a comprehensive modernization of its examination system. CUNA's strategy includes providing input to the agency and keeping members informed.
Credit unions will have an extra three days to file second- and third-quarter call reports this year, the NCUA announced Monday. Second-quarter call reports will be due July 25, third-quarter call reports will be due Oct. 24.
Six federal agencies published guidance last week designed to ensure all depository institutions are aware of expectations when it comes to deposit reconciliation. CUNA’s compliance explains what it means for credit unions in a recent CompBlog post.
The NCUA’s decision to review its examination cycle comes after months of advocacy from CUNA, especially its Examination and Supervision Subcommittee. Chaired by Paul Gentile, the subcommittee met numerous times with the NCUA over the past year.
The NCUA’s working group on the agency’s examination cycle will report to the board in 90 to 120 days with recommendations regarding an extended examination cycle. The group will be chaired by Region 4 Director Keith Morton.
NCUA Chair Rick Metsger told CUNA that the agency has begun the process of consulting industry practitioners to assist in the transition as credit unions work to implement the new current expected credit loss accounting standard.
CUNA’s inaugural Fair Lending Workshop took place last week in Denver, leading to valuable discussions on compliance with the Equal Credit Opportunity Act, the Fair Housing Act, the Home Mortgage Disclosure Act and more.