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.
The examination process at the NCUA went on trial last week. Not before a court but before Congress, though it could end up in court, too, if legislation in Congress makes it through to law. The Financial Institution Examination Fairness and Reform Act (H.R. 3461) would create an ombudsman within...
While industry representatives said new legislation on financial institution exams is sorely needed, an NCUA executive more than begged to differ.
The examination process at the NCUA went on trial last week. Not before a court but before Congress, though it could end up in court, too.
Agency executive director tells House panel that bill would raise NCUSIF tab, add regulation and not give any assurance of added benefit.