A NCUA task force on Thursday recommended adoption of a flexibleexam schedule for credit unions. This recommendation would allowthe agency to extend the length of time between exams for creditunions meeting specific criteria.
“NCUA is committed to improving operations, responding tochange, and finding ways to meet the needs of the credit unions weregulate while protecting the members whose money we insure,” NCUABoard Chairman Rick Metsger said. “We want to be more efficient andmore effective while always putting safety and soundnessfirst.”
Metsger announced the initiative in May and asked NCUA Region IVDirector C. Keith Morton to head the effort. The working groupsolicitedstakeholder comments on the exam process. The NCUA board isscheduled to consider the working group's recommendations duringits November meeting.
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