This month's special topic:
Since the onset of the Great Recession, it has been a common refrain that credit unions did not cause the crisis but have felt its effects. One clear example is in the examination process. Various regulations instituted in the Dodd-Frank Act increased the scope and complexity of exams, and NCUA made the decision in 2010 to move from an 18-month exam cycle to an annual one. This required a significant increase in exam staff, leading to less experienced examiners dealing with new regulations. As indicated in previous survey results, many credit unions felt that improvements needed to be made. As this month’s Economic & CU Monitor survey reveals, there is evidence of progress, but there is still work to be done to create a fair and efficient examination process.
NAFCU's Economic and CU Monitor is a NAFCU member-only monthly report of the latest macroeconomic and financial trends affecting today's credit unions, including trend data among NAFCU member credit unions.
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