ALEXANDRIA, Va.— NCUA has outlined its supervisory priorities for 2018.
In a Letter to Credit Unions (17-CU-09), the agency noted that during 2017 it began implementing an extended exam cycle, which is expected to be fully implemented by the end of 2018.
“Examiners will continue to use the streamlined small credit union exam program procedures for credit unions with assets up to $50 million and CAMEL ratings of 1, 2, or 3. For all other credit unions, examiners will conduct risk-focused examinations, which concentrate on the areas of highest risk, new products and services, and compliance with federal regulations,” NCUA noted.
The NCUA’s primary areas of supervisory focus in 2018 are:
- Cybersecurity assessment
- Bank secrecy act compliance
- Internal controls and fraud prevention
- Interest rate and liquidity risk
- Automobile lending
- Commercial lending
- Consumer compliance