WASHINGTON--With the Office of the Comptroller of the Currency proposing reforms, the NCUA should undertake a rulemaking to align more closely and modernize its appeals process for supervisory decisions to allow for a more transparent, independent, and accessible process, America’s Credit Unions asserted.
In a letter to the NCUA, America’s Credit Unions Head of Regulatory Advocacy James Akin outlined recommended changes to Part 746 of the agency’s regulations to achieve this change.
The letter outlines five key amendments to the NCUA’s framework. These include:
- Allowing credit unions to delay implementing disputed supervisory actions while an appeal is pending
- Adding independent members to the agency’s Supervisory Review Committee to strengthen confidence in the independence of the process
- Providing clarification on examiner dissuasion of appeals or the reimposition of determinations that have been overturned
- Formally integrating the NCUA’s ombudsman into the appeals process
- Creating an expedited appeal process option for time-sensitive cases