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What's Missing From NCUA's Priorities?


๐™’๐™๐™–๐™ฉ ๐™ž๐™จ ๐™‰๐™Š๐™ ๐™ค๐™ฃ ๐™‰๐˜พ๐™๐˜ผ'๐™จ ๐™Ž๐™ช๐™ฅ๐™š๐™ง๐™ซ๐™ž๐™จ๐™ค๐™ง๐™ฎ ๐™‹๐™ง๐™ž๐™ค๐™ง๐™ž๐™ฉ๐™ž๐™š๐™จ ๐™›๐™ค๐™ง ๐Ÿฎ๐Ÿฌ๐Ÿฎ๐Ÿฏ?


I write and speak often about NCUA's Supervisory Priorities which come out at this time every year.

Last year NCUA showed a HUGE increase in Priorities (up from 7 and 8 the previous years - to 11 topics).


Yet they didn't increase staff to handle these priorities which reminded me of the old saying - ๐—ช๐—ต๐—ฒ๐—ป ๐—˜๐˜ƒ๐—ฒ๐—ฟ๐˜†๐˜๐—ต๐—ถ๐—ป๐—ด ๐—œ๐˜€ ๐—” ๐—ฃ๐—ฟ๐—ถ๐—ผ๐—ฟ๐—ถ๐˜๐˜†... ๐—ก๐—ผ๐˜๐—ต๐—ถ๐—ป๐—ด ๐—œ๐˜€ ๐—” ๐—ฃ๐—ฟ๐—ถ๐—ผ๐—ฟ๐—ถ๐˜๐˜†...


So I am pleased to see that NCUA has reduced the number of Priorities from 11 to 6!


I will have much content coming here and on my podcast on these 6 priorities soon...


but today I want to mention what "๐—ณ๐—ฒ๐—น๐—น ๐—ผ๐—ณ๐—ณ" the priority list:


๐—˜๐—น๐—ฒ๐—ฐ๐˜๐—ฟ๐—ผ๐—ป๐—ถ๐—ฐ ๐—ฃ๐—ฎ๐˜†๐—บ๐—ฒ๐—ป๐˜ ๐—ฆ๐˜†๐˜€๐˜๐—ฒ๐—บ๐˜€: (Odd that it fell off since they only recently hired the new specialists).

๐—•๐—ฎ๐—ป๐—ธ ๐—ฆ๐—ฒ๐—ฐ๐—ฟ๐—ฒ๐—ฐ๐˜† ๐—”๐—ฐ๐˜: Ironic that it falls off when they just added BSA Specialists to the Budget - thus making me believe these specialists are being added more to create a career path for staff than expand exams in this area - so that is good for credit unions.

๐—–๐—ฎ๐—ฝ๐—ถ๐˜๐—ฎ๐—น ๐—”๐—ฑ๐—ฒ๐—พ๐˜‚๐—ฎ๐—ฐ๐˜†: This was new to the list last year due to the new rule. Credit union capital is strong and IRR and Liquidity are job 1 and 2 so I get the rationale here also.

๐—–๐—˜๐—–๐—Ÿ: Implementation is now required and with all the coverage on this topic I am surprised to say it is a non-event for my clients - another good move to take this off the priority list - but not so fast! They just moved it to Other Updates!

๐—Ÿ๐—œ๐—•๐—ข๐—ฅ: goodbye and good riddance!

๐—Ÿ๐—ผ๐—ฎ๐—ป ๐—ฃ๐—ฎ๐—ฟ๐˜๐—ถ๐—ฐ๐—ถ๐—ฝ๐—ฎ๐˜๐—ถ๐—ผ๐—ป๐˜€: They must have concluded this was more of a good growth trend than a bad growth trend - which also led them to propose changes to the rule to allow more of this down the road (December board proposal).


They also snuck ๐—ฆ๐˜‚๐—ฐ๐—ฐ๐—ฒ๐˜€๐˜€๐—ถ๐—ผ๐—ป ๐—ฃ๐—น๐—ฎ๐—ป๐—ป๐—ถ๐—ป๐—ด into the "๐—ข๐˜๐—ต๐—ฒ๐—ฟ ๐—จ๐—ฝ๐—ฑ๐—ฎ๐˜๐—ฒ" Category...so the decrease in priorities is actually smaller than it looks on the surface. More to follow from me on this topic soon.


I can't end this post without listing the actual 2023 Priorities - which I will discuss in detail here and elsewhere soon:


๐Ÿญ ๐—œ๐—ฅ๐—ฅ

๐Ÿฎ ๐—Ÿ๐—ถ๐—พ๐˜‚๐—ถ๐—ฑ๐—ถ๐˜๐˜† ๐—ฅ๐—ถ๐˜€๐—ธ

๐Ÿฏ ๐—–๐—ฟ๐—ฒ๐—ฑ๐—ถ๐˜ ๐—ฅ๐—ถ๐˜€๐—ธ

๐Ÿฐ ๐—™๐—ฟ๐—ฎ๐˜‚๐—ฑ ๐—ฃ๐—ฟ๐—ผ๐˜๐—ฒ๐—ฐ๐˜๐—ถ๐—ผ๐—ป

๐Ÿฑ ๐—–๐˜†๐—ฏ๐—ฒ๐—ฟ ๐—ฆ๐—ฒ๐—ฐ๐˜‚๐—ฟ๐—ถ๐˜๐˜†

๐Ÿฒ ๐—–๐—ผ๐—ป๐˜€๐˜‚๐—บ๐—ฒ๐—ฟ ๐—™๐—ถ๐—ป๐—ฎ๐—ป๐—ฐ๐—ถ๐—ฎ๐—น ๐—ฃ๐—ฟ๐—ผ๐˜๐—ฒ๐—ฐ๐˜๐—ถ๐—ผ๐—ป (๐—น๐—ฎ๐—ป๐—ด๐˜‚๐—ฎ๐—ด๐—ฒ ๐—ผ๐—ป ๐—ฆ๐—ต๐—ฎ๐—ฟ๐—ฒ ๐—ข๐˜ƒ๐—ฒ๐—ฟ๐—ฑ๐—ฟ๐—ฎ๐—ณ๐˜๐˜€ ๐—ถ๐˜€ ๐—พ๐˜‚๐—ถ๐˜๐—ฒ ๐—ถ๐—ป๐˜๐—ฒ๐—ฟ๐—ฒ๐˜€๐˜๐—ถ๐—ป๐—ด).


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