Compliance

Stand Up for Your Point of View With Regulators

CUs can take several steps to improve relationships with regulators, says Dunn.

October 27, 2011
/ PRINT / ShareShare / Text Size +

Although credit unions were collateral damage from the financial crisis, NCUA's response in some ways has been draconian, some say. This is in part because of the regulator's responsibility to protect the share insurance fund.

But Mary Dunn, CUNA's senior vice president/deputy general counsel, told Community Credit Union & Growth Conference attendees in San Francisco that credit unions can take several steps to improve their relationships with regulators. She recommends they:

  • Focus on examiners' concerns;
  • Put proper management in place;
  • Conduct due diligence;
  • Follow lending policies and procedures;
  • Adhere to concentration limits; and
  • Manage growth wisely.

Most important, Dunn says: Stand up for your point of view when you face disagreements with your examiners and regulators.

Nice one

Stuffy
December 02, 2011 6:34 am
Really enjoyed the article and the way you write.


Flag Comment as Offensive

Post a comment to this story

What's Popular

Popular Stories

Recent Discussion

Your Say: What's Your Expected Loan Growth in 2015?

View Results Poll Archive