NCUA Issues 2024 Supervisory Priorities
On Jan. 22, 2024, the National Credit Union Administration (NCUA) issued its 2024 Supervisory Priorities, highlighting regulatory compliance as a key focus item. The three areas of regulatory compliance that will receive the most attention this year include:
- Overdraft programs – Advertising, settlement process and balance calculation method
- Fair lending – Marketing, redlining and pricing
- Auto lending, including indirect lending – Regulation Z and GAP insurance
In the report, the NCUA also mentioned examiners will focus on flood insurance policies and procedures. Finally, the Bank Secrecy Act (BSA) will continue as a supervisory priority, as it has for the past several years.
Looking for clarity on the regulatory expectations of the NCUA this year or needing a compliance review performed? Doeren Mayhew's regulatory compliance specialists are here to help ensure you’re remaining compliant with the applicable regulations.