Regulator group says financial institutions, including credit unions, have to consider fundamentals of risk and risk management.
Here are some guidelines that can help as the FFIEC's new online banking security expectations take hold.
NCUA’s examiner training in Orlando last month and listening sessions this summer are a step in the right direction, trade organizations say, and senior NCUA officials have been open to discuss exam issues and ways to improve the process.
Over the past several years, confusion has grown concerning acceptable and proper methods and techniques for credit union member business loan classification and risk ratings. This dilemma surprises no one as the credit union industry has not established a uniform system for business loan classification and risk ratings.
Faced with uncertainty over whether H.R. 3461 will pass and positive signs from the NCUA that it will consider improving exam procedures and streamline regulations, CUNA has asked the regulator to implement some provisions of the Financial Institutions Examination Fairness and Reform Act now.
Trade group asks agency to implement changes before proposed law is passed.
Credit unions who haven't already should update their assessment now to help avoid negative findings during the next examination.
A second credit union has been formally recognized as a mortgage leader in its community.
The disagreement between financial institutions and regulators over changes in the exam process may not be resolved on Capitol Hill any time soon.
It has become mission-critical for credit unions to understand the nature of the cybersecurity threats they face.