In the ongoing saga over whether NCUA should be given authority to oversee third party vendors, officials with the agency now have one more feather in their cap.
In a lengthy report release July 2, the U.S. Government Accountability Office presented the NCUA with a Christmas in July present by again siding with the regulatory agency and suggesting that NCUA should, in fact, have the authorization to examine third party technology service providers used by credit unions, just as all the other regulatory agencies can.
NCUA Board Chairman Debbie Matz said it is time to close the regulatory blind spot so that NCUA may better protect credit unions.
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