Today, CUNA
filed a letter with
NCUA in support of the agency’s efforts to modernize the examination process.
The NCUA issued the RFI as part of a comprehensive study of alternative
procedures to modernize the agency’s examination program. The agency seeks to
support a predominately offsite examination and supervision model by taking
advantage of new and emerging approaches and techniques to utilizing data and
technology.
We appreciate
the agency’s efforts over the past few years to shift certain examinations from
fully in-person and onsite to a mix or predominantly offsite. We have
encouraged such a shift on numerous occasions. Given the current disruption
caused by the ongoing pandemic, it is critical now more than ever that the
agency explore any and all appropriate options to ensure credit unions are able
to continue to operate without undue risk to agency or credit union staff.
In our letter,
we offer numerous suggestions on how the agency can effectively and efficiently
shift to a more offsite approach, while ensuring important aspects of the exam
are not compromised, including in the area of data security.