NCUA named its examination flexibility working group Tuesday, and CUNA member credit unions are among its resources. Last week, NCUA Chair Rick Metsger announced the formation of the group, which will provide a recommendation on extending the examination cycle.
“We’re pleased to see that the vast majority of contributors to this important working group are CUNA member credit unions,” said Elizabeth Eurgubian, CUNA’s deputy chief advocacy officer. “Our member credit unions, as well as CUNA, look forward to working with NCUA to hopefully provide meaningful relief to credit unions.”
The working group, chaired by NCUA Region 4 director Keith Morton, will consist of six separate groups working by region. The group will report to the board within 120 days of the agency’s May 19 meeting.
Metsger’s announcement on the working group came in conjunction with his announcement that NCUA would take a look at modernizing examination and supervision processes. This includes the agency’s Enterprise Modernization Initiative, a request for information about call reports and more.
NCUA’s decision to look at potential examination cycle changes comes after months of advocacy from CUNA, state leagues and credit unions.