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One Simple Way Credit Union CEOs Can Decrease Regulatory Exam Response Risk

By Brad Powell posted in Resources, CEO, General Counsel

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Federal regulations have imposed a staggering burden on credit unions over the past seven years.

According to a study commissioned by the Credit Union National Association (CUNA), credit unions’ regulatory costs have increased by $1.7 billion since 2010. In that span, CUs have seen a 91 percent increase in staff time spent on regulatory activities. That’s something that credit union CEOs are paying attention to.

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5 Strategies to Avoid Risk During Your Credit Union’s Next Regulatory Examination

By Brad Powell posted in Resources, Coordination, General Counsel, CEO, Compliance Officer

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Do you know of a credit union that looks forward to its next regulatory exam?

Examinations aren’t designed to be pleasant, even when you are doing everything right. When you miss a detail or provide conflicting information, that’s when authorities raise concerns. 

There are strategies to make the process less painful, while at the same time better protecting your organization from an examiner’s finding (or even worse, a DOR!) from NCUA. Other credit unions have found the following strategies valuable and worthwhile:

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