NCUA outlines 2019 supervisory priorities

NCUA logoNCUA Chairman J. Mark McWatters reminded federally insured credit unions about the agency’s primary areas of supervisory focus for 2019, in a letter to credit unions yesterday. The letter is intended to assist credit unions in preparing for their next NCUA examination.

The supervisory areas of focus include:

  • bank secrecy act compliance;
  • concentrations of credit;
  • consumer compliance;
  • current expected credit losses, or CECL;
  • information systems and assurance; and
  • liquidity and interest rate risks.

Regarding the examination cycle and procedures to be employed, the extended exam cycle introduced in 2017 will be fully implemented in 2019. Agency examiners will continue using the streamlined small credit union exam program procedures for most credit unions that have assets under $50 million. For all other credit unions, examiners will conduct risk-focused examinations, concentrating on the areas of highest risk, new products and services, and compliance with federal regulations.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s