NCUA Outlines Supervisory Priorities for 2022
A recent letter to credit unions outlines the National Credit Union Administration’s supervisory priorities and other aspects of the agency’s examination program for 2022. The NCUA remains committed to focusing its examination activities on the areas that pose the highest risk to credit unions, credit union members, and the National Credit Union Share Insurance Fund, the letter notes.
The NCUA recognizes the ongoing challenges faced by credit unions and their efforts to assist members affected by the ongoing COVID-19 pandemic. The NCUA encourages credit unions to continue working with their members who may be experiencing financial difficulty.
Given the ongoing uncertainty associated with the COVID-19 pandemic, the NCUA will continue to conduct examination and supervision activities primarily offsite. Working with our public health consultant, the agency continues to closely monitor the COVID-19 pandemic trends and will resume onsite examination and supervision work when safe to do so. For additional information on the NCUA’s COVID-19 response efforts, visit the NCUA’s Coronavirus (COVID-19): Information for Federally Insured Credit Unions and Members webpage.
The agency’s flexible examination scheduling policy will continue in 2022. Examinations of credit unions that qualify for the extended examination cycle will be scheduled accordingly. Most federal credit unions with assets under $50 million will continue to receive examinations conducted based on the Small Credit Union Exam Program. For all other credit unions, NCUA examiners will use the agency’s risk-focused examination procedures to conduct the examination.
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