Agency executive director tells House panel that bill would raise NCUSIF tab, add regulation and not give any assurance of added benefit.
The NCUA’s decisions aren’t reviewed by third parties and credit unions don’t receive consistent messages, trades testify to Congress.
The deadline for meeting the new authentication requirements is now and examinations with the new guideline are getting under way.
Wednesday House hearing will focus on bill that would give financial institutions ability to appeal results of examinations to an independent ombudsman.
NAFCU, CUNA sending credit union executives to testify on the Hill for measure that would allow financial institutions to contest examinations.
EVP Berger tells lawmakers that exam consistency "is a key component to providing results accurately reflecting safety and soundness."
CUNA chief Cheney calls proposed law "firm step in the right direction."
Addressing online security for financial institutions and their customers means looking at all activity across the organization – not just in the cyber sphere
So much to do, so many potential distractions. That’s the outlook facing Congress as it returns to work after its holiday break.
Credit unions worked hard in 2011 to continue to build their housing finance programs even as the overall housing industry continued to struggle with low home prices, high foreclosure rates and significantly tighter mortgage underwriting rules.