Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

Washington
CUNA backs examination improvement bill

WASHINGTON (11/22/11)--The Credit Union National Association (CUNA) has welcomed H.R. 3461, which would allow financial institutions to appeal examination reports from federal financial regulators and provide further clarity to those regulators, saying the bill is "recognition that Congress is taking the concerns that we and others have raised regarding examinations seriously."

·    Portions of the bill that would establish a new Office of Examination Ombudsman to investigate complaints about examinations and look at examination quality assurance;

·    Language that would require regulatory agencies to list any information that was used to support a certain regulatory action or request;

·    Language that would allow financial institutions to appeal any material supervisory determination in an exam report to an independent administration law judge.

"There are also areas where CUNA will ask the sponsors to improve the bill, and we want to work with Congress to find solutions to improve the examination process in these challenging economic times," Donovan added.

A hearing on the bill is scheduled to take place in the House financial institutions subcommittee on Dec. 6 at 2:00 p.m. ET.

For more on the bill, use the resource link.

Other Resources

RSS





print
News Now LiveWire
CUNA: CUNA offices closed through Friday, News Now returns Monday http://t.co/a5xbLzQKDj
1 Day ago
Reminder: @CUNA's Madison, D.C. offices will be closed through Friday, open again on Monday. #NewsNow will publish Monday.
1 Day ago
MI dentist to match @CUDirect's $20K to @HurleyMedical as a result of #20for20 online voting http://t.co/hqmIc9LpK1 @CMNHospitals
1 Day ago
New #creditunion chartered in St. Louis - #LutheranFCU - by @TheNCUA http://t.co/faPfANGS0P. Only 3rd new FCU charter this year.
1 Day ago
Don't get hacked during the holidays-use these tips from @CUNA http://t.co/jEqxni6NhO #StoptheDataBreaches http://t.co/woIxPOIyys
1 Day ago