News
NCUA Exam Flexibility Initiative Seeking Credit Union Input — 5/31/16
Chairman indicates that exam changes will come sooner rather than later
In an effort to modernize the agency’s examination and supervision program, the National Credit Union Administration (NCUA) has begun an outreach effort to feedback from credit union system stakeholders through the Exam Flexibility Initiative. This initiative will include meetings and teleconferences, and the agency has already opened an email account for credit unions to provide comments, at ExamFlexibility@ncua.gov, and created a webpage to provide information about the initiative, available online.
“We are committed to continual quality improvement and, in particular, to modernizing the examination process, the agency’s largest function,” NCUA Board Chairman Rick Metsger said. The Chairman announced on May 12 that NCUA would begin reviewing the examination process, including the frequency of examinations, through the establishment of an internal working group, which will include representatives from all five of the agency’s regional offices and its central office. Region IV Director Keith Morton is leading the effort.
NCUA presented five questions for credit unions to consider to help stimulate this discussion:
- -How can NCUA conduct future examinations in ways that minimize their impact on credit unions’ operations?
- -What concerns do credit unions have about the current examination and supervision program?
- -What steps should NCUA take to improve the efficiency of its examination program while ensuring it remains effective?
- -How can NCUA better use technology in examinations?
- -What metrics should NCUA consider to determine a credit union’s eligibility for an extended examination cycle?
Metsger has said he wants to make changes to the examination process “sooner rather than later,” leaving a project completion date uncertain.
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