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.
A financial institution that is unhappy with the results of its examination would have the right to appeal it to an administrative law judge who would submit his or her findings to the ombudsman of the FFIEC. The FFIEC is made up of representatives of federal and state regulatory entities. NCUA Chairman Debbie Matz is the council's current chairman.
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