Faced with uncertainty over whether H.R. 3461 will pass and positive signs from the NCUA that it will consider improving exam procedures and streamline regulations, CUNA has asked the regulator to implement some provisions of the Financial Institutions Examination Fairness and Reform Act now.
In a March 31 letter to NCUA Chairman Debbie Matz, CUNA specifically asked the regulator to provide credit unions with support for exam mandates and create a vehicle for credit unions to appeal exam decisions.
CUNA Senior Vice President for Regulatory Advocacy and Deputy General Counsel Mary Dunn said the trade group's leaders, including members of its exam and supervision subcommittee, have been encouraged by meetings with the NCUA and, in particular, Director of the Office of Examination and Insurance Larry Fazio.
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