๐๐๐๐ฉ ๐๐จ ๐๐๐ ๐ค๐ฃ ๐๐พ๐๐ผ'๐จ ๐๐ช๐ฅ๐๐ง๐ซ๐๐จ๐ค๐ง๐ฎ ๐๐ง๐๐ค๐ง๐๐ฉ๐๐๐จ ๐๐ค๐ง ๐ฎ๐ฌ๐ฎ๐ฏ?
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 - ๐ช๐ต๐ฒ๐ป ๐๐๐ฒ๐ฟ๐๐๐ต๐ถ๐ป๐ด ๐๐ ๐ ๐ฃ๐ฟ๐ถ๐ผ๐ฟ๐ถ๐๐... ๐ก๐ผ๐๐ต๐ถ๐ป๐ด ๐๐ ๐ ๐ฃ๐ฟ๐ถ๐ผ๐ฟ๐ถ๐๐...
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 "๐ณ๐ฒ๐น๐น ๐ผ๐ณ๐ณ" the priority list:
๐๐น๐ฒ๐ฐ๐๐ฟ๐ผ๐ป๐ถ๐ฐ ๐ฃ๐ฎ๐๐บ๐ฒ๐ป๐ ๐ฆ๐๐๐๐ฒ๐บ๐: (Odd that it fell off since they only recently hired the new specialists).
๐๐ฎ๐ป๐ธ ๐ฆ๐ฒ๐ฐ๐ฟ๐ฒ๐ฐ๐ ๐๐ฐ๐: 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.
๐๐ฎ๐ฝ๐ถ๐๐ฎ๐น ๐๐ฑ๐ฒ๐พ๐๐ฎ๐ฐ๐: 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.
๐๐๐๐: 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!
๐๐๐๐ข๐ฅ: goodbye and good riddance!
๐๐ผ๐ฎ๐ป ๐ฃ๐ฎ๐ฟ๐๐ถ๐ฐ๐ถ๐ฝ๐ฎ๐๐ถ๐ผ๐ป๐: 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 ๐ฆ๐๐ฐ๐ฐ๐ฒ๐๐๐ถ๐ผ๐ป ๐ฃ๐น๐ฎ๐ป๐ป๐ถ๐ป๐ด into the "๐ข๐๐ต๐ฒ๐ฟ ๐จ๐ฝ๐ฑ๐ฎ๐๐ฒ" 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:
๐ญ ๐๐ฅ๐ฅ
๐ฎ ๐๐ถ๐พ๐๐ถ๐ฑ๐ถ๐๐ ๐ฅ๐ถ๐๐ธ
๐ฏ ๐๐ฟ๐ฒ๐ฑ๐ถ๐ ๐ฅ๐ถ๐๐ธ
๐ฐ ๐๐ฟ๐ฎ๐๐ฑ ๐ฃ๐ฟ๐ผ๐๐ฒ๐ฐ๐๐ถ๐ผ๐ป
๐ฑ ๐๐๐ฏ๐ฒ๐ฟ ๐ฆ๐ฒ๐ฐ๐๐ฟ๐ถ๐๐
๐ฒ ๐๐ผ๐ป๐๐๐บ๐ฒ๐ฟ ๐๐ถ๐ป๐ฎ๐ป๐ฐ๐ถ๐ฎ๐น ๐ฃ๐ฟ๐ผ๐๐ฒ๐ฐ๐๐ถ๐ผ๐ป (๐น๐ฎ๐ป๐ด๐๐ฎ๐ด๐ฒ ๐ผ๐ป ๐ฆ๐ต๐ฎ๐ฟ๐ฒ ๐ข๐๐ฒ๐ฟ๐ฑ๐ฟ๐ฎ๐ณ๐๐ ๐ถ๐ ๐พ๐๐ถ๐๐ฒ ๐ถ๐ป๐๐ฒ๐ฟ๐ฒ๐๐๐ถ๐ป๐ด).
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