Exam Appeals Proffered by New Bill in House
If you’ve ever wanted to appeal the results of your credit union’s NCUA examination to someone outside the agency, a bill moving through the House of Representatives would allow you to do that.
Rep. Shelley Moore Capito (R-W. Va.) and Rep. Carolyn Maloney (D-N.Y.) have introduced a measure that would create an examination ombudsman within the Federal Financial Institutions Examination Council that would field complaints filed by credit unions and other financial institutions.
NCUA Director of Public and Congressional Affairs Todd Harper said the agency is reviewing the bill and doesn’t have a position on it yet. He noted that in June, Matz wrote in her column in the agency’s newsletter that there is an extensive appeals process in place within the NCUA if credit unions are dissatisfied with the results of their examinations. She also noted that the agency has a strictly enforced policy that forbids retribution against credit unions that appeal their examinations.
Lobbyists for CUNA and NAFCU praised the measure.