If Congress allows credit unions to make more business loans, the industry can expect even more supervision from the NCUA.
The agency, already under pressure to protect the National Credit Union Insurance Share Fund from additional losses, has been coming down hard during examinations to ensure that credit unions are vigilant about anticipating all the risks before making a business loan.
"They [NCUA examiners] are pushing for our risk analyses to be even more rigorous than in the past. They are asking us do more modeling and look at more possible scenarios so we are less likely to lose money. The oversight has always been strong but they have definitely stepped it up,'' said Marcus Schaefer, president/CEO of Truliant Federal Credit Union, a $1.1 billion institution in Winston-Salem, N.C.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
- Exclusive discounts on ALM and CU Times events.
- Access to other award-winning ALM websites including Law.com and GlobeSt.com.
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
