WASHINGTON–The Federal Financial Institutions Examination Council, of which NCUA is a member, has issued a statement announcing best practices for requesting examination information from supervised entities, and a common authentication solution for secure access to the FFIEC members’ supervision systems.
According to the FFIEC, the statement presents the results of the final phase of the Examination Modernization Project in which FFIEC members addressed the feedback provided by supervised entities regarding examination requests and authentication requirements for FFIEC members’ supervision systems.
The FFIEC noted it was established in March 1979 to prescribe uniform principles, standards, and report forms and to promote uniformity in the supervision of financial institutions.
In addition to NCUA, the FFIEC includes representatives from the Fed, the FDIC, the CFPB and the OCC.