Concerns regarding bank and credit union examinations increase during difficult economic times. In a recent survey conducted by CUNA, nearly 30% of credit unions reported dissatisfaction with their most recent exam. Credit unions support strong but fair and appropriate safety and soundness
regulation and supervision to protect the financial resources of credit unions and their members and to minimize costs to the National Credit Union Share Insurance Fund (NCUSIF) borne by all federally insured credit unions. These exams should be based on the laws Congress enacts and the regulations that NCUA
promulgates, and the appeals process should protect credit unions from examiner retaliation.
Testimony of Maria J. Martinez, President & CEO Border Federal Credit Union – 3/14/12
House Subcommittee on Financial Institutions & Consumer Credit
Testimony of Ken Watt, President and CEO, West Virginia Credit Union League – 2/1/12
House Financial Services Committee Subcommittee on Financial Institutions and Consumer Credit
Additional Information Regarding H.R. 1553
Link to legislative language and list of co-sponsors for H.R. 1553.