The NCUA board on July 21 approved a plan to give regional directors more discretion in scheduling exams for federal credit unions and federally insured, state chartered institutions.
Under the plan, exams for federal credit unions do not have to be conducted every calendar year. However, the time between exams may not exceed 23 months.
Likewise, for federally insured, state chartered credit unions with assets exceeding $250 million, exams will not need to be conducted each calendar year. Instead, regional directors may choose which of those institutions to examine based on several factors, including the risk profile of the institution, emerging trends, the time that has lapsed since the last exam and coordination with state regulatory agencies.
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