WASHINGTON (2/11/16)--The Credit Union National Association (CUNA) issued the following response Wednesday to a Dear Colleague letter Reps. Frank Guinta (R-N.H.) and Ruben Hinojosa (D-Texas) are asking others to join in signing, addressed to National Credit Union Administration (NCUA) Chair Debbie Matz regarding an extended examination cycle.
“Lengthening exam cycles for credit unions has been a top priority of CUNA’s for some time, and we have achieved significant and important wins for the benefit of our members. We will continue to fight on behalf of credit unions--whether it is on exam cycle length, exam fairness or regulatory overstep by agencies such as the CFPB. We applaud Representatives Guinta and Hinojosa for their important letter to NCUA Chair Matz, which will keep lengthening exam cycles at the top of the agency’s priority list. Thanks to Paul Gentile, chairman of CUNA’s Examination and Supervision Subcommittee, for his leadership on this vital matter for credit unions.”