NAFCU last week released a letter that President/CEO Fred Becker sent to NCUA Board members, supporting recommendations the agency’s Office of Inspector General made in an Aug. 31 report to improve the examination and complaint processes for small credit unions.
In the letter, Becker also made another request for the NCUA’s National Supervisory Policy Manual to be made public.
According to the OIG report, the NCUA has clear exam policies and standards, but carries them out inconsistently. However, the regulator’s policy manual effectively addresses the issue, the report said.
Becker said NAFCU requested a copy of the manual under the Freedom of Information Act on July 10, but rescinded the request after the NCUA said the manual would be made public. However, the NCUA has not released the document.
The OIG report also determined the NCUA has an adequate exam appeals process; however, “there are operational and organizational deficiencies related to compliance monitoring, the regional determination process, the Supervisory Review Committee, and the Ombudsman position.”
The report recommended improvements in those areas, and NCUA management agreed to implement them. Becker also urged the NCUA to better communicate with credit unions the agency’s standards and policies to conduct examinations.
