Newsroom

May 04, 2023

NAFCU breaks down NCUA’s climate risk RFI

Reg AlertNAFCU sent members a Regulatory Alert Wednesday highlighting the NCUA’s request for information (RFI) on current and future climate and natural disaster risks to federally insured credit unions (FICUs). 

Through the Regulatory Alert, NAFCU highlighted that: 

  • the responses and data gathered through the RFI have the potential to impact credit unions through rulemaking related to governance, risk management, and reporting, as well as through modifications to examinations;

  • the RFI groups climate-related financial risks into two broad categories, physical risk and transition risk; and

  • the RFI focuses on, among other things, the impact of these risks on vulnerable populations as well as on areas such as physical risk, transition risk, operations, business strategies, reporting and targets, climate-related opportunities, and data gathering.

Comments are due to NAFCU June 12; comments are due to the agency June 26. Subscribe to receive Regulatory Alerts in your inbox.