SACRAMENTO, Calif. The California Department of Financial Institutions last week said it is eliminating paper examination reports for state chartered credit unions and banks as part of its latest cost-saving move.
The elimination of the paper reports will save money on the use of paper, postage, file storage space and the time needed to deliver a completed examination report, the DFI said.
In 2013, examination reports will be delivered in PDF format by secure e-mail to the licensee and to NCUA. Paper copies will not be saved in the Department’s file system or mailed to the licensee and NCUA. Credit unions and NCUA will receive examination reports sooner, the DFI said, as the time needed to deliver a paper report by postal mail will be eliminated.