ALEXANDRIA, Va.–The risk of improper payments related to NCUA’s various programs is low, according to the agency’s Inspector General.
In a report to Congress that is based on a required review of 2020, the IG stated, “The National Credit Union Administration (NCUA) annually conducts risk assessments of all its programs and activities. Based on these risk assessments, the NCUA has concluded that it does not have programs that are susceptible to significant improper payments.”
The NCUA report was sent to Sen. Gary Peters (D-MI), who chairs the Senate Homeland Security and Government Affairs.
“We reviewed the NCUA’s 2020 risk assessment of its programs and activities and its determination that the programs and activities have a low risk of significant improper payments and its 2020 annual report for compliance with improper payment requirements,” the IG said in its letter. “We agree with the NCUA’s overall risk analysis and because the NCUA’s improper payment amount was below the statutory threshold, we have nothing further to review for compliance “