NAFCU is asking for feedback from members on questions regarding the information the NCUA collects electronically during credit union examinations and the overall data collection process. The NCUA Board introduced the request for information during its Oct. 19 meeting as it reviews the loan, deposit and investment information collected electronically during examinations.
In its Regulatory Alert sent to members Monday, NAFCU highlights the following:
NAFCU notes in its Regulatory Alert that despite industry consolidation, credit unions have grown in assets, loans, shares, membership and complexity in recent years. As a result, examiners often ask for additional reports and data electronically during examinations, though the NCUA has not defined a standard data structure and fields for different types of loans.
Member credit unions can submit comments to NAFCU on the request through its Regulatory Alert until Dec. 15. Comments are due to the NCUA by Jan. 2.