BALTIMORE — Federal examiners at small credit unions will beginlooking more closely for internal controls and fraud prevention, anNCUA official said Thursday.

Timothy Segerson, deputy director of the agency's Office of Examination and Insurance, said that while fraud cases at small credit unions generally do not cost largeamounts of money, they frequently represent losses significantlylarger than the credit unions themselves.

Also from National FederationConference:

Segerson made his remarks to credit union executives at abreakout session at the National Federation of CommunityDevelopment Credit Union's annual conference, which runs throughSaturday at the Sheraton Inner Harbor Hotel in Baltimore.

Continue Reading for Free

Register and gain access to:

  • Breaking credit union news and analysis, on-site and via our newsletters and custom alerts.
  • Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders.
  • Educational webcasts, white papers, and ebooks from industry thought leaders.
  • Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com.
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Regulatory & Compliance