Leaders of state credit union leagues from throughout the National Credit Union Administration’s Region 2 gathered this week to discuss a host of regulatory and exam issues facing Cus.
At the top of league leaders’ minds was developments regarding the upcoming consolidation of NCUA’s Region 1 and Region 2 offices as part of a larger restructuring at the agency. NCUA officials stressed that they are early in the process and will keep leagues updated as it progresses.
Participants at the meeting met with Region 2 Director Jane Walters, Associate Regional Director Mike Ryan and Associate Regional Director Wendy Angus.
Other key issues discussed at the meeting included: The impact of the extended exam cycle, the implementation of the new member business lending rule, the appeals process, accounting treatment of Corporate Stabilization Fund refunds, loan securitization, upcoming new CECL requirements, cybersecurity, Military Lending Act impacts, BSA compliance and more.
“These meetings show the value leagues bring on the local level to ensure that credit unions are well represented with the regulator,” Brad Miller, executive director of the American Association of Credit Union Leagues, said in a press release. “Often it is regulatory issues that have the most impact on a credit union’s day to day operations, so it is vital that Leagues are having strong dialog with the agency."
The meeting, which took place at the Pennsylvania CU Association’s offices, included presidents and executives from:
- The Cooperative Credit Union Association;
- The Maryland/DC Credit Union Association;
- The New Jersey Credit Union League;
- The Ohio Credit Union League;
- The Pennsylvania Credit Union Association;
- The Virginia Credit Union League;
- The West Virginia Credit Union League.