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Hot Topics for 2013    

​Several members of the Plante Moran credit union team attended the annual NCUA/AICPA National Credit Union Conference in late October. There were many recurring themes throughout the conference, including a steady stream of “hot topics” prevalent in multiple presentations by speakers from the NCUA and the credit union industry. Every credit union should be aware of these items as we head into 2013.    

Top 3 Exam Priorities  

  1. Credit Risk
    • Ensure prudent loan modification policies and procedures
    • Monitor modified loan performance
    • Perform appropriate due diligence over new loan programs
  2. Due Diligence 
    • Plan and exercise due diligence with ALL third parties
  3. Interest Rate Risk

Best Practices to Prepare for Your Next Regulatory Examination

  1. Be aware of when the regulatory exam(s) will take place
  2. Review your credit union’s prior regulatory examination report
  3. Ensure you have updated management’s plan for each finding with details of resolution or continuation of resolution.
  4. Be aware of any currently issued IRPS and/or Regulations
  5. Be available to meet with the examiner during and after the examination
  6. Be open to suggestions or concerns brought forward
  7. Request support and ask follow up questions

Top 5 Compliance Violations

  1. Reg Z
  2. RESPA
  3. Truth-in-savings
  4. HMDA
  5. Flood

Top 6 Traits Identified in Troubled Credit Unions

  1. Ineffective management
  2. High concentration risk
  3. Lack of or poor third-party due diligence
  4. High credit risk
  5. Member Business Lending
  6. Liquidity issues

Contact Us

Christina Hardy

877.622.2257, x26058