Removing Barriers Blog

Cybersecurity, Risk-Based Capital, and Accounting Among Issues NCUA Could Address in 2017
Posted December 13, 2016 by CUNA Advocacy

NCUA Board Member McWatters attributes enhanced communication between his office and that of Board Chairman Metsger to several recent agency efforts, including a final field of membership rule, a hearing on the agency’s budget, and a review of the agency’s examination procedures. 

However, as outlined in the latest NCUA Report, “there is more work that needs to be done to improve operations at NCUA and to allow well-managed credit unions greater flexibility consistent with the principles of safety and soundness,” according to McWatters. He goes on to list a number of issues that, working collaboratively, the Board could pursue. Here are a few of those issues that may be of interest: 

Determine whether the risk-based capital rule should be revisited; 

  • Examine ways to increase examination uniformity throughout the regions, and improve the examination-appeals process; 

  • Consider establishing an NCUA Credit Union Advisory Council to hear directly from credit unions; 

  • Review NCUA’s cybersecurity protocols; 

  • Be more active with other agencies and the Financial Accounting Standards Board to ensure credit union differences are recognized; 

  • Work with state regulators to enhance the dual-chartering system; 

  • Ensure the agency’s priorities align with its budget expenditures through greater transparency; and 

  • Work with Congress to update the Federal Credit Union Act to facilitate credit union operations and growth.