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The NCUA Board approved two NAFCU-supported proposals related to exam appeals, which the agency says will increase transparency and due process, yesterday during its open meeting. NAFCU President and CEO Dan Berger thanked the board for listening to credit unions' concerns and making appropriate appeals process changes.

"NAFCU and our member credit unions appreciate the NCUA Board's commitment to easing regulatory burden," Berger said. "These changes to the exam appeals process will simplify and improve the process for credit unions. We will continue our efforts to improve the regulatory environment to help ensure credit unions are able to grow and thrive."

One of the approved rules standardizes the appeals process for regulations that currently have their own review and appeals procedures. The other expands the number of supervisory determinations appealable to the agency's Supervisory Review Committee and provides credit unions the opportunity for additional review by the director of the Office of Examination and Insurance.

The two final rules go into effect Jan. 1. Each rule includes slight changes from the original proposal to clarify components that were flagged during the comment period.

The NCUA Board yesterday also issued a proposal on capital planning and supervisory stress testing. Under this proposal, covered credit unions would be allowed to conduct their own stress testing and incorporate those results into their capital plan submissions, a change NAFCU supports. The current process requires the NCUA to conduct a stress test even if the credit union conducts one of its own.

NAFCU will continue to review this proposal and will recommend ways the NCUA can provide even more relief for credit unions on stress testing. The association will issue a Regulatory Alert for member input at a later date; comments are due to the NCUA 60 days after it is published in the Federal Register.

Also yesterday, the NCUA Board issued a request for information on electronic loan, deposit and investment data collection for a 60-day comment period and reviewed the National Credit Union Share Insurance Fund quarterly report.