CCUL Headlines: Compliance

NCUA 2018 supervisory focus hones in on cybersecurity, Reg E and more

Wednesday, December 27, 2017   (0 Comments)
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The National Credit Union Administration’s (NCUA) recent letter to credit unions, 17-CU-19, outlines the agency’s 2018 supervisory focus. For the fourth consecutive year, cybersecurity assessment, the Bank Secrecy Act (BSA) and Interest Rate Risk (IRR) are among the agency’s top examination priorities.

“Examiners expectations for these three areas are increasing each year,” noted Jeanne Couchois, VP of regulatory and compliance counsel for the Carolinas Credit Union League. “Credit unions should ensure that their risk assessment, policy and procedures are reviewed each year in these areas, and that they are proportionate with the credit union’s size, complexity and field of membership.”

Other supervisory focus areas include internal controls, fraud prevention, automobile lending, commercial lending, and consumer compliance.

In fact, during this year’s Hike the Hill, NCUA’s Matt Biliouris previewed the agency’s heightened focus on consumer compliance, especially Regulation E. According to Biliouris, the NCUA will be evaluating credit unions efforts to comply with the Home Mortgage Disclosure Act (HMDA) and the Military Lending Act (MLA) as well as reviewing credit unions’ overdraft policies and procedures for compliance with Regulation E.

“Starting in 2018, the League’s Compliance Department will be offering specialized training on Regulation E for credit unions (by request),” shared Couchois. “We will share more details about this training offer in the coming weeks.”

For now, more information on Reg E and other mentioned topics are available on

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