NCUA officials and a CUNA representative agreed the agency'sfirst listeningsession in Boston Wednesday produced good questions,interactive dialogue and no confrontational situations.

It was “beyond civil,” said CUNA Senior Vice President andDeputy General Counsel Mary Dunn, who attended the event along with 94 others, in which theregulator solicited feedback regarding how NCUA can improve the exam process and reduce regulatory burden.

“But were credit unions holding back? I think probably somewere, but there were some really good questions asked,” Dunnsaid.

She added that she feels there's “no question that there is someanger out there among credit unions,” but said she was told bythose in attendance that the session was a positive step in theright direction.

NCUA Senior Strategic Communications and External RelationsAdvisor Buddy Gill also attended the event, and called those inattendance a good group and said he thinks the agency was pleasedwith the dialogue.

Gill said there wasn't one particular issue that dominated thequestion and answer session. Topics discussed at the event coveredNCUA's new interest rate risk policy, member business lendingregulations, the exam appeal process, overdrafts and the Consumer Financial Protection Bureau.

Sharing positives along with negatives during exams was oneinteresting suggestion, he said.

“We do train on it,” Gill said. “(Examiners) are supposed to dothat, provide a balanced message.”

Gill also recalled a question about allowing credit unions toprescribe their own solutions to exam issues rather than haveexaminers dictate them.

Dunn said she found that question intriguing as well, and saidshe was pleased with the agency's response.

“The NCUA wasn't suggesting an examiner cave in to the creditunion, but there is definitely a recognition that there has to be aprofessional relationship and better communication, and probably atthe heart of these issues has been a lack of good communication,”Dunn said. The CUNA rep said NCUA Office of Examination andInsurance Director Larry Fazio told credit unions the communicationshould not occur only during the exam, but be on going, and thereshould be no surprises on either side.

Carrie Hunt, NAFCU general counsel and vice president ofregulatory affairs, did not attend the session, but said she hasvisited with NAFCU members who were there.

“We think it's positive that NCUA is having these discussions,and of course we want to work with the agency to see positivechange come out of it, as opposed to just discussion,” Hunt said.“We will be participating with members in all listening sessions,continuing to work toward the mutual goal of protecting the shareinsurance fund and providing credit unions with regulatoryrelief.”