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Examiners handbook InfoBase gets redesign
WASHINGTON (2/17/11)--In a move that could conceivably improve communications between federal financial regulators and their examiners, the Federal Financial Institutions Examination Council (FFIEC) announced an improvement in its information distribution process. The FFIEC, comprised of the National Credit Union Administration (NCUA) and the federal bank and thrift agencies, announced the launch of its redesigned IT Examination Handbook InfoBase. The IT InfoBase is the primary distribution method for the IT Examination Handbook. “The new IT InfoBase is expected to have a beneficial impact on the user experience and will enable more timely updates to the IT Handbook in the future. This update does not implement any changes to the content of the IT Handbook, or related guidance,” said a release distributed by the NCUA. Credit unions have voiced increasing frustration with the federal examination process, and the Credit Union National Association (CUNA) regularly advocates for improved examiner training. Also, in January, after an exhaustive look at credit unions' problems with the process, CUNA unveiled a bill of "examination rights," developed by its Supervisory Issues Working Group, which is detailed and cross-referenced to the NCUA own examiner guide. Within a 64-page guidance document titled "Supervisory Issues and Examinations: Guidance For Credit Unions During The Current Economic Times And Beyond," CUNA lists 24 "examination rights," which include such things as the right of credit unions to "manage risk without being directed by examiners to eliminate it," and "appeal examiner findings, conclusions, or directives without retaliation from their regulator." To read the CUNA document, and for an electronic version of the FFIEC IT Examination Handbook Series, use the resource links below. www.ffiec.gov/guides.htm.
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