ARLINGTON, Va. — With the six "Listening Sessions" held by NCUA Chairman Debbie Matz around the country now concluded, NAFCU is urging the agency to take actions based on issues raised during those sessions. In particular, said NAFCU President Fred Becker in a letter to the agency, the trade group wants to see action in the areas of:
• Examinations. NAFCU wants NCUA to provide CUs with adequate notice before examiners are deployed and arrive on-site so as to allow more time to prepare appropriate documents and other materials in order to respond to examiners' requests. It also wants to "ensure that examiners are not misusing examinations tools," such as DORs and Preliminary Warning Letters, and wants to see more consistency among examiners.
• Member Business Lending. Saying a "recurring issue" at the Listening Sessions was waivers on MBLs, NAFCU said the process for obtaining such waivers is "inefficient, redundant, often take far too long and are often inconsistent." NAFCU is calling for more blanket waivers, where appropriate, to alleviate the burden on credit unions seeking waivers. "To further address the redundancy and inefficiencies, credit unions that engage in loan participations should not have to obtain a waiver on the loan in which they are participating," NAFCU said.
• NAFCU pressed NCUA for a better definition of "Rural District" and for an incease in the asset threshold from the current $10 million level to define a credit union as "small."
NAFCU also urged NCUA to address a number of other concerns, as well.