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News Now

Washington
CUNA seeks transparency in tech assistance program
ALEXANDRIA, Va. (2/24/11)--The Credit Union National Association (CUNA) urged the National Credit Union Administration (NCUA) to further improve the transparency of its supervisory and examination appeals process in a Tuesday comment letter. CUNA added that it supports giving the NCUA’s Supervisory Review Committee the authority to review TAG denials, as credit unions previously had no forum to appeal these NCUA decisions. However, the NCUA could clarify how credit unions can appeal other supervisory and examination matters outside of the Supervisory Review Committee’s review, CUNA said. CUNA also approved of the NCUA’s move to allow committee decisions to be appealed from the date that the credit union receives their decision. The proposal, which combined two other previously published IRPS’s, also updates some titles and explains that Supervisory Review Committee meetings will be held on an as-needed basis going forward. TAGs are used to assist low-income credit unions under NCUA’s Community Development Revolving Loan Fund. The NCUA’s TAG proposal, Interpretive Ruling and Policy Statement (IRPS) 11-1, came into effect on January 20. For the full comment letter, use the resource link.


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