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September 04, 2015

NCUA open to more dialogue on 18-month exam cycle

NCUA, in response to NAFCU President and CEO Dan Berger's urging the agency to adopt an 18-month exam cycle, didn't rule out the change and noted all the processes and systems that would need to be in place for the agency to move to such a cycle.

"We appreciate NCUA's thoughtful review of our recommendation," Berger said. "We urge them to implement the ideas and processes outlined in their letter as expeditiously as possible to help credit unions benefit from the noted efficiencies. Going forward, we welcome continuing the dialogue with the agency on this critical issue."

Berger urged NCUA in a letter last month to return to an 18-month examination cycle to cut down on duplicative examination expenses, including high spending on airfare and auto rentals for examiners. He explained that an 18-month exam program would allow NCUA more flexibility in balancing staff and resources without compromising the safety and soundness of the industry.

In the agency's response to Berger, NCUA Office of Examination and Insurance Director Larry Fazio noted the agency would have to address workforce management needs, enhance its data and modeling capabilities, establish new technologies and techniques to improve the AIRES examination platform and design a framework for the examination program.

"I recognize the potential advantages to adopting and extended exam cycle for healthy credit unions," wrote Fazio. "However, there are various open questions on the efficacy of an extended exam cycle and the need for more dialogue on this subject."

NCUA initially weighed in on Berger's letter last month in Credit Union Journal; Board Member J. Mark McWatters, without supporting or rejecting the idea, said in an op-ed that it merits debate.

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