CUNA suggested several immediate improvements in the NCUA’s examination procedures in a letter sent to the agency this week. The letter was sent in response to the NCUA’s recent request for input on through its Exam Flexibility Initiative.
“We encourage NCUA to tackle the supervision improvement process in two stages. First, NCUA should determine what the agency can implement immediately or no later than the 2017 examination cycle to provide immediate supervisory relief for most credit unions,” reads CUNA’s letter. “The second stage should focus on long-term solutions in the supervisory process that would require updates to systems, processes, and staffing to fully implement.”
Suggested short-term goals include:
Suggested long-term goals as the agency reviews and designs a new supervisory scheme include:
As part of the Exam Flexibility Initiative, the NCUA is accepting comments on its call reports through Aug. 15.
CUNA has a website dedicated to the containing the latest resources on the supervisory improvement process. Currently it features CUNA and the leagues’ exam survey, the NCUA’s examiners guide and supervisory policy manual, and CUNA’s summary of credit union examination rights.