WASHINGTON (1/20/14)--The National Credit Union Administration should incorporate a number of improvements before it adopts its 2014-2017 Strategic Plan, the Credit Union National Association said in its most recent comment letter to NCUA filed Friday.
The letter focused on the NCUA's proposed strategic plan, but used the opportunity to raise a host of concerns CUNA has about the agency's operations and dealings with credit unions and credit union issues.
Cheif among these issues, CUNA urged the agency to address how it plans to provide regulatory relief to credit unions. Citing the Office of Comptroller of the Currency's recently released strategic plan that claims to want to support bank competitiveness, CUNA's Deputy General Counsel Mary Dunn said the agency should include its overall plans for regulatory relief within its three-year strategy notice.
"Steps such as allowing more flexibility for well-managed credit unions and additional latitude to avoid non-statutory requirements such as under the member business loan rule are but two examples that should be addressed," Dunn wrote.
CUNA provided a number of recommendations in a Nov. 13, 2013 letter (see resource link) to NCUA that should be encompassed under regulatory relief in the Strategic Plan, the CUNA letter noted.
Other points raised by CUNA included:
NCUA efforts to improve the examination process should be addressed;
The strategic plan should address cost containment and how the agency's budget correlates with the strategic plan;
The NCUA's overall communications plan should be improved; and,
The agency should better address the use of technology, data security and efforts to stay current on new developments, such as in the area of payments.
CUNA also criticized the agency's process for review of its strategic plan, which did not provide sufficient time for stakeholder input, since the agency is considering the plan at the Jan. 23 open board meeting. CUNA also said that directives from the Office of Management and Budget, which sets standards for the operation of federal agencies, have not been met.