Credit union stakeholders commended the NCUA Monday for adopting a reorganization plan that acknowledges the consolidation of the industry, while also recognizing how technology can make supervision much more efficient.
"The moves are long overdue and are consistent with Chairman [J. Mark] McWatters' vision to create a more effective regulatory environment that embraces a virtual exam model and more remote work to reduce costs," said Paul Gentile, president of the Cooperative Credit Union Association.
The NCUA on Friday announced that it will be closing its Albany, N.Y. and Atlanta, Ga. field offices. The agency also said it was reorganizing several offices, while eliminating four of its five rental sites.
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