The Cooperative Credit Union Association is asking National Credit Union Administration Chair Debbie Matz to return to an 18-month examination cycle saying, in part, that less frequent exams will help examiners concentrate on problem areas.
FinCEN issued a list last week of frequently asked questions regarding Customer Due Diligence requirements for financial institutions. The document contains 24 sets of questions and answers, which are also available on. CUNA’s CompBlog .
The NCUA board voted Thursday to adopt the agency’s strategic plan for 2017-21 that includes updating the agency’s goals for examinations. While this change does not immediately credit unions' exam cycle, it sets the stage for later improvements.