The NCUA board on July 21 approved a plan to give regional directors more discretion in scheduling exams for federal credit unions and federally insured, state chartered institutions.
Under the plan, exams for federal credit unions do not have to be conducted every calendar year. However, the time between exams may not exceed 23 months.
Likewise, for federally insured, state chartered credit unions with assets exceeding $250 million, exams will not need to be conducted each calendar year. Instead, regional directors may choose which of those institutions to examine based on several factors, including the risk profile of the institution, emerging trends, the time that has lapsed since the last exam and coordination with state regulatory agencies.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
- Exclusive discounts on ALM and CU Times events.
- Access to other award-winning ALM websites including Law.com and GlobeSt.com.
Already have an account? Sign In
© 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.
