NCUA agrees to CUNA-requested call report RFI extension
Following conversations with CUNA last week, NCUA has extended the deadline to comment on call reports to Aug. 15. During its conversations with the agency, CUNA noted the original deadline of Aug. 1 fell shortly after the call report submission deadline, which would provide a timing conflict as the credit union focuses on submitting the report.
“Credit union professionals who are best positioned to provide valuable input on the call report process would be otherwise very busy and impaired in their ability to focus on meaningful input,” said Elizabeth Eurgubian, CUNA’s deputy chief advocacy officer. “We’re grateful to the NCUA for its decision, which should greatly improve the quality of responses.”
Eurgubian previously called the agency’s decision to open up the call report process to public comment a good first step toward the agency modernizing its examination and supervision process. She urged credit unions to submit their comments on the NCUA’s data collection.
The NCUA’s request for information requests specific input in the following areas:
What specific areas of the call report and credit union profile do users find challenging;
What sections or items could be made optional for small or non-complex credit unions without compromising the agency’s ability to assess risk in these institutions;
What items could be added to the reports to enhance the agency’s analysis of the system’s performance trends;
What areas of regulatory reporting align with a credit union’s internal accounting and what areas do not;
How the call report and credit union profile could be reorganized to reduce credit unions’ reporting burden; and
- What additional suggestions or ideas do credit unions have for collecting financial and non-financial information.