NCUA Doubles Down on Budget Needs Citing Fraud

NCUA Doubles Down on Budget Needs Citing Fraud

Citing an increase of fraud found during onsite examinations, NCUA Chair Todd Harper continues to argue for the need of in person audits and the budget to go with them.

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Coming to a Credit Union Near You: NCUA Examiners

Coming to a Credit Union Near You: NCUA Examiners

Tuesday, September 20, Chairman Todd Harper published a letter to federally insured credit unions announcing that the organization would be entering Phase 3 of its onsite operations plan, originally announced back in June 2020 in the midst of the global pandemic, reports Esteban Camargo.

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NCUA to Receive Third-Party Oversight with New Bill Introduced

NCUA to Receive Third-Party Oversight with New Bill Introduced

In a move opposed by credit union trade groups, Senators Jon Ossoff, D-GA, Cynthia Lummis, R-WY, and Mark Warner, D-VA, introduced a new bill that would provide NCUA with oversight powers over credit union organizations and service providers, reports CUSO Magazine’s Esteban Camargo.

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Tips for Managing Your Next CUSO Examination

Tips for Managing Your Next CUSO Examination

CUSO examinations, while less frequent than credit union examinations, are no less stressful or thorough. Patrick Sickels advises on how best to prepare yourself and your staff ahead of time for an audit to make sure you pass with flying colors.

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Harper: Exams Demonstrate Need for Consumer Protection Focus

Harper: Exams Demonstrate Need for Consumer Protection Focus

David Baumann of the Washington CU Daily reports that citing deficiencies that NCUA examiners found during the past year, board Chairman Todd Harper renewed his call for the agency to develop a separate consumer protection examination. His remarks came during his confirmation hearing before the Senate Banking Committee.

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The NCUA’s Most Important Function Needs Transparent Reassessment

The NCUA’s Most Important Function Needs Transparent Reassessment

Recent high profile embezzlement cases and NCUA’s reticence to disclose information about them suggests a major problem, says Chip Filson. NCUA’s examination process has failed.

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Internal Controls: A Trusted System Tops a Trusted Employee

Internal Controls: A Trusted System Tops a Trusted Employee

How are some individuals able to conceal millions of dollars in fraudulent activity at their credit unions? Keri Lillie explains how trusting employees can be riskier than trusting the system you’ve built around them.

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Considerations and Pitfalls of Branch Accounting Strategies

Considerations and Pitfalls of Branch Accounting Strategies

Branch accounting may be the next hot ticket item among NCUA examiners. Keegan Daniel explores some considerations and pitfalls to performing branch accounting at your credit union.

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Toeppe Named NCUA Director of Examination and Insurance

Toeppe Named NCUA Director of Examination and Insurance

Myra Toeppe has been named director of the Office of Examination and Insurance at the National Credit Union Administration, reports David Baumann of the Washington Credit Union Daily.

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