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May 02, 2012

NAFCU members at Boston listening session

May 3, 2012 – NCUA's "listening session" yesterday in Boston put some 45 credit union representatives – including NAFCU members – face to face with the agency's board members, senior policy advisors and regional staff in an effort to find ways to make the examination process better.

Wednesday's was the first of six sessions NCUA is holding around the country as it seeks to address the complaints it has been receiving about examinations and a perceived lack of consistency throughout the regions. Many of the credit union participants aired concerns about some examiners' lack of experience as well as the process.

NCUA Chairman Debbie Matz said these sessions will help the agency get feedback on how it can improve the process.

Carrie Hunt, NAFCU's general counsel and vice president of regulatory affairs, said the association appreciates the agency's holding these sessions. "We know many credit unions have positive relationships with their examiners, but we are hearing more complaints about the examination process this year than at any other time," Hunt said. "We want to work with NCUA to make that process better."

NCUA Board Members Gigi Hyland and Michael Fryzel attended Wednesday's session. Also participating were Matz's special advisor, Buddy Gill, and General Counsel Mike McKenna, Region I Director Mark Treichel, 13 regional supervisory examiners and other agency staff.

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