Mon, Oct 2, 2017
League leaders that represent credit unions in Region 2 recently met with NCUA Region 2 Leadership in Harrisburg, Pa. to discuss critical exam and regulatory issues facing credit unions.
League Presidents and League executives from the Maryland|DC Credit Union Association, the Cooperative Credit Union Association, the New Jersey Credit Union League, the Ohio Credit Union League, the Pennsylvania Credit Union Association, the Virginia Credit Union League and the West Virginia Credit Union League met with Region 2 Director Jane Walters, Associate Regional Director Mike Ryan, and Associate Regional Director Wendy Angus.
The meeting is hosted annually by one of the Leagues in the Region. This year PCUA hosted the group at PCUA’s headquarters in Harrisburg. “We were pleased to carry on this tradition for our fellow Leagues here in Harrisburg to ensure we continue to have strong dialogue with the agency on important exam and regulatory issues,” said Patrick Conway, President/CEO of PCUA.
Key issues discussed at the meeting included the impact of the extended exam cycle, the implementation of the new MBL 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 others.
One issue that is top of mind for Leagues in Region 2 are developments surrounding the coming consolidation of NCUA’s Region 1 and Region 2 offices. NCUA stressed that they are early in the consolidation process and will keep Leagues notified as the consolidation progresses.
“These meetings show the value Leagues bring on the local level to ensure that credit unions are well represented with the regulator. 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 dialogue with the agency,” said Brad Miller, Executive Director of the American Association of Credit Union Leagues. “The meeting that happened in Region II is happening in all the Regions around the country. It’s a great example of League regulatory advocacy in action,” said Miller.Cooperative Credit Union Association,