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ECU Monitor details changes in recent NCUA exams
NAFCU's latest Economic & CU Monitor – now available for download – focused on NCUA exams. The results indicated respondents desire exam reforms related to consistent application of rules and guidance.
The monitor revealed more credit unions reported having “no concern” compared to a year ago, but 43 percent of respondents still reported having either a moderate or significant level of concern.
Additionally, the monitor noted how examiner focus has shifted to loan quality on different categories of products since respondents’ last exam: 31 percent said examiners focused more on indirect loans, while 28 percent said their examiner devoted more attention to commercial real estate loans.
In the arena of consumer compliance, areas that saw the greatest change were related to fair lending (31 percent) and auto lending (27 percent). For other consumer compliance domains like Regulation E and Regulation Z rules related to credit cards, respondents reported either no change or less focus.
The monitor also provided a brief look at economic conditions, stating “the positive developments in the economy persuaded the FOMC to make a significant shift in its outlook for 2024,” including the committee scheduling three rate cuts.
NAFCU relies on survey responses to provide its members a glimpse of trends affecting the credit union industry and inform the association’s advocacy efforts. Next month’s survey is a special edition covering interchange; responses are due Jan. 12.
For more on NAFCU's award-winning research team, check out the association's Macro Data Flash reports for insights into interest rates, auto sales, the housing market, and more.