NCUA Chairman Debbie Matz pitched the need for the NCUA to gain authority over credit union vendors Thursday when she introduced an interagency rule during the regulator's monthly board meeting.
The proposed rule would implement minimum requirements for state oversight of appraisal management companies.
“We face a regulatory blind spot. NCUA can approve this interagency rule, which would strengthen regulation of appraisal management companies and should help prevent conflicts of interest, but we are unable to enforce it,” Matz said.
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