InfoSight Spotlight: NCUA proposes audit requirement changes

The NCUA Board has published [84 FR 5957, 2/25/19] a proposal to amend its regulations at 12 CFR part 715 governing the responsibilities of a federally insured credit union to obtain an annual supervisory committee audit of the credit union. The proposal implements recommendations outlined in the agency’s Regulatory Reform Task Force’s Regulatory Reform Agenda […]

The NCUA Board has published [84 FR 5957, 2/25/19] a proposal to amend its regulations at 12 CFR part 715 governing the responsibilities of a federally insured credit union to obtain an annual supervisory committee audit of the credit union. The proposal implements recommendations outlined in the agency’s Regulatory Reform Task Force’s Regulatory Reform Agenda and will provide additional flexibility to federally insured CUs. Comments are due by April 26.

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The League of Southeastern Credit Unions & Affiliates represents 342 credit unions in Alabama, Florida and Georgia, with a combined total of $118.63 billion in assets and more than 10.1 million members. LSCU & Affiliates provides legislative and regulatory advocacy; education and training; cooperative initiatives (including financial education outreach); public messaging; information services; and business solutions.

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