On-Site Coverage: CUSO Examiners May Be One Solution to Quell Losses
LAS VEGAS — NCUA examiners hired specifically to examine CUSO operations and portfolios may be one way to spot red flags, an NCUA official said Wednesday.
Gary Kohn, NCUA senior policy advisor, told attendees at the National Association of Credit Union Service Organizations' annual conference in Las Vegas today that the regulator has discussed whether it has adequate expertise on board to monitor CUSO activities or will the agency have to provide additional training.
The latter move may lead to an increase in NCUA's budget to make the accomodation.
Kohn said it takes three to four years to train examiners. The NCUA has hired a number of staffers over the years but more resources may be needed to monitor CUSOs if the regulator moves forward with a new vendor authority model, he said.
More examiners would also come into view when looking at how NCUA's regional offices handle those CUSOs that cross state lines, Kohn said. NCUA Board Member Gigi Hyland reiterated the regulator wanting to work more with states to find out the impact on staffing, workable solutions and if shared exams can work.