CUNA to educate CUs on risk-focused examination process

WASHINGTON-CUNA hosted an audio-conference July 16 to educate credit unions on the finer details of NCUA's new risk-focused examination process. On the call was NCUA Director of Examination and Insurance Dave Marquis, as well as CUNA Examination and Supervision Subcommittee Chairman/South Carolina Credit Union League President John Franklin; Iowa Superintendent of Credit Unions and former NASCUS Chairman Jim Forney; and CUNA Associate General Counsel for Compliance Kathleen Thompson. Mary Dunn, CUNA associate general counsel for Regulatory Affairs, moderated the 90-minute call. NCUA Chairman Dennis Dollar has been the driving force behind the risk-based examination at NCUA, which promises to save NCUA and credit unions time and money. The audio-conference is designed to aid credit unions in preparing for examinations under the new process. NCUA recently issued a Letter to Federal Credit Unions (02-FCU-09) on the subject.