In January 2017, the National Credit Union Administration (“NCUA”) put forth a list of “Supervisory Priorities” to assist federally insured credit unions in preparing for their next NCUA examinations. For 2017, the NCUA put forth six areas of focus for credit union review. Those six areas include the following: cybersecurity assessment; Bank Secrecy Act compliance; internal controls and fraud prevention; interest rate and liquidity risk; commercial lending; and consumer compliance.
For small credit unions with assets of $50 million or less and CAMEL ratings of 1,2 or 3, the NCUA will continue to use streamlined exam procedures. For all other credit unions, examinations will be focused on risk with emphasis on new products and services and compliance with federal regulations.
More information can be found at: https://www.ncua.gov/regulation-supervision/Pages/policy-compliance/communications/letters-to-credit-unions/2017/01.aspx.