NCUA is reviewing 5300 call reports, and any significant increases in member business lending, indirect lending, or loan participation delinquencies will result in an unscheduled visit from an examiner.
NCUA Chairman Debbie Matz told Texas Credit Union League members yesterday both federally and state chartered credit unions will be subject to the automatic audits, as the regulator attempts to protect the industry from mounting loan losses.
Too many fixed-rate, long-term mortgages on credit union books will also attract examiner attention, she said, because the NCUA has been warning for months that interest rates will rise.
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