Nussle encourages longer exam cycle as soon as possible

first_img 5SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr Credit Union National Association (CUNA) President/CEO Jim Nussle thanked National Credit Union Administration (NCUA) Chair Debbie Matz for reiterating her commitment Thursday to developing a longer examination cycle for well-run credit unions. Nussle further welcomed her willingness to consider an extension beyond 18 months–itself an improvement to the current 12-month cycle instituted during the economic downturn.“CUNA stands ready to help the NCUA implement a longer exam cycle at the earliest possible time,” Nussle added. “The biggest problem for credit unions here is that the burden of regulatory and exam requirements in general is putting increasing pressure on credit union resources and that should be addressed as soon as possible.”Matz was responding to a February letter signed by more than two dozen U.S. House members, from both parties, urging the agency to extend its examination cycle for certain credit unions. She told the lawmakers that the NCUA will be in a better position to consider an extended examination cycle once new processes and procedures are in place by the end of 2017.“An extended examination cycle might run longer or shorter than 18 months depending on the effectiveness of the systems we build and the need to ensure safety and soundness,” Matz wrote. “I believe the board should ensure these improved systems and processes are in place and operating properly before the board makes any decision to extend the examination cycle.” continue reading »last_img

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