Newsroom
NAFCU Statement In Response to NCUA's Call Report Announcement
Washington (Sept. 19, 2016) -- National Association of Federal Credit Unions (NAFCU)Senior Regulatory Affairs Counsel Michael Emancipator issued the following statement in response to the National Credit Union Administration's (NCUA)announcement that will require less information regarding credit union service organizations from credit unions on the agency's call reports.
"NAFCU and our members believe the change announced by NCUA today is a good first step towards removing redundant information gathering on the call report but the agency should examine and adopt NAFCU's full list of recommendations in order to provide additional relief," said Emancipator.
In August, NAFCU wroteNCUA with an extensive list of specific and actionable recommendations from its members. NAFCU's recommendations for the call report modernization include leveraging technology and software solutions to streamline data entry and submission, removing data fields that do not pertain to safety and soundness, hosting routine training and guidance on the call report for credit unions and updating the call report to integrate information that credit unions already produce to help facilitate the reporting process for credit unions.
Going forward, credit unions will only be required to submit aggregate CUSO loan and investment information on the call report. All other required information is now being collected directly from CUSOs through the agency's CUSO Registry.
In May, NCUA announced a comprehensive review of call report and credit union profile content. An agency working group has been gathering information through a public comment-and-review process. NCUA has extended the reporting deadline for third-quarter call reports to Oct. 24.
The National Association of Federal Credit Unions is the only national trade association focusing exclusively on federal issues affecting the nation's federally-insured credit unions. NAFCU membership is direct and provides credit unions with the best in federal advocacy, education and compliance assistance.www.nafcu.org.
###
Share This
Media Contact
Related Resources
Add to Calendar 2024-05-03 14:00:00 2024-05-03 14:00:00 Plan Sponsor Attitudes Toward Retirement Plan Management and Fiduciary Outsourcing About the Webinar In January 2024, Pentegra conducted a survey of retirement plan sponsors and their perspectives on retirement plan management and fiduciary outsourcing. The survey measured how sponsors are using fiduciary outsourcing to help better manage their retirement plans. It also captured their perspectives on what outsourcing does to help them better position their plans and drive improved retirement plan outcomes. Key Takeaways: What is the full scope of your responsibilities as a plan sponsor? What is fiduciary outsourcing and how does it work? How does fiduciary outsourcing help reduce workloads and minimize risk? How can a credit union best position its plan to drive improved outcomes? Register Here Web NAFCU digital@nafcu.org America/New_York public
Plan Sponsor Attitudes Toward Retirement Plan Management and Fiduciary Outsourcing
preferred partner
Pentegra
Webinar
Turning Lemons into Lemonade: Capitalizing in a Post-Banking Crisis Era
Strategy
preferred partner
Allied Solutions
Blog Post
Ensuring Safety and Soundness with AI
Management, Consumer Lending, FinTech
preferred partner
Upstart
Blog Post
Add to Calendar 2024-05-02 14:00:00 2024-05-02 14:00:00 Mastering Resilience in Incident Response Plans About the Webinar An Incident Response (IR) plan is crucial for guiding credit unions through major incidents efficiently and effectively. However, many IR plans lack resilience, making them less adaptable to the evolving threat landscape. Join us for our webinar Mastering Resilience in Incident Response Plans where DefenseStorm cyber experts Elizabeth Houser and James Bruhl will delve into the importance of resiliency within cybersecurity IR plans. Don’t miss out on the opportunity to learn how to: Ensure IR plan accessibility so that all team members with assigned roles are prepared for effective incident response. Conduct efficient and regular reviews to ensure roles and responsibilities are current, tools are relevant, and compliance requirements are met. Implement and utilize tabletops to regularly test the effectiveness of your IR plan. Enhance preparedness, efficiency, and confidence among responders. View On-Demand Web NAFCU digital@nafcu.org America/New_York public
Mastering Resilience in Incident Response Plans
preferred partner
DefenseStorm
Webinar
Get daily updates.
Subscribe to NAFCU today.