Bill aims to improve the examination process for financial institutions.
The CFPB answers Capitol Hill accusations regarding exams, saying it addressed Inspector General findings.
An employee tells Congress CFPB officials direct examiners to find violations even if none occur.
The NCUA's annual report says 2014 exams will review a credit union's ability to respond to cybersecurity incidents.
LAKE BUENA VISTA, Fla. — Three different CUSOs gave different takes on their experiences with examiners.
Beginning in January 2014, DORs will include a description of material problems, along with corrective actions agreed upon by examiners and credit unions.
Whatcom Educational CU volunteers to go first. "We have so many auditors looking at us anyway, what's one more?"
In mid-October, Whatcom Educational Credit Union in Bellingham, Wash., will undergo one of the Evergreen State’s first separate examinations for consumer compliance, now required of all Washington state chartered credit unions with more than $500 million in assets.
Although the NCUA is already addressing key findings revealed in a national survey conducted by CUNA and its affiliated state league organizations, the trade association told Credit Union Times that the results still show room for improvement.
Trade group says agency already addressing key findings in its survey of 1,500 respondents about examination process.