The National Credit Union Administration (NCUA) released the Letter to Credit Unions 22-CU-02 outlining the agency's examination program priorities for 2022. Supervisory priorities for 2022 cover:
- Credit Risk Management,
- Information Security (Cybersecurity),
- Payment Systems,
- BSA/AML Compliance,
- Capital Adequacy and Risk Based Capital Rule Implementation,
- Loan Loss Reserving,
- Consumer Financial Protection,
- Fraud,
- LIBOR Transition,
- Interest Rate Risk, and
- Exam Program Updates
To read the letter, visit https://www.ncua.gov/regulation-supervision/letters-credit-unions-other-guidance/ncuas-2022-supervisory-priorities.
Please contact Elisabeth Esposito at eesposito@buckleytechgroup.com for more information on how your credit union can prepare for upcoming exams.