Tuesday, December 26, 2017

NCUA Identifies Supervisory Priorities for 2018

The National Credit Union Administration (NCUA) in a letter to credit unions announced its supervisory priorities in 2018.

The agency identified the following seven areas for supervisory focus in 2018: cybersecurity assessment, Bank Secrecy Act compliance, internal controls and fraud prevention, interest rate and liquidity risk, automobile lending, commercial lending, and consumer compliance.

With respect to automobile lending, NCUA will focus on portfolios with the following concentrations -- extended loan maturities of over 7 years, high loan-to-value ratios, near-prime and subprime, and indirect lending programs.

With regard to consumer compliance, NCUA examiners will focus on three areas -- federal credit unions’ good faith efforts to comply with the Consumer Financial Protection Bureau’s amendments to the regulations implementing the Home Mortgaage Disclsoure Act (HMDA), credit unions' effort to comply with the Military Lending Act, and credit unions' overdraft policies and procedures for compliance with Regulation E.

Read the letter.

No comments:

Post a Comment