Revising call reports and Credit Union Profile can both enhance the NCUA’s supervisory ability and reduce regulatory burden on credit unions, CUNA wrote to the agency Friday.
As part of its examination and supervision modernization efforts, the NCUA requested input on the necessity and accuracy of the information collected, as well as ways to enhance the quality, utility and clarity of the collected information.
Friday’s letter follows CUNA’s letter sent earlier this month suggesting short- and long-term exam improvements.
CUNA conducted extensive outreach to its members to assist the NCUA in its reform efforts. CUNA’s call report requirements survey uncovered several concerns with the 5300 Call Report and the 4501A Profile Report.
CUNA suggests the following guiding principles for the NCUA to use when revising the call report and profile: