ARLINGTON, Va.—A growing number of credit union leaders would like NCUA to reform exams to achieve consistent application of rules and guidance, a new NAFCU survey reveals.
The trade association’s latest Economic & CU Monitor focused on NCUA exams and found more credit unions reported having “no concern” regarding exam reform compared to a year ago, but 43% of respondents still reported having either a moderate or significant level of concern.
Additionally, the Monitor found credit unions said the focus by examiners has shifted to loan quality on different categories of products since respondents’ last exam, with 31% reporting examiners focused more on indirect loans, while 28% said their examiner devoted more attention to commercial real estate loans.
Additional Findings
In the arena of consumer compliance, areas that saw the greatest change were related to fair lending (31%) and auto lending (27%). For other consumer compliance domains like Regulation E and Regulation Z rules related to credit cards, respondents reported either no change or less focus, according to those who responded to the survey.
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