NJCUL Represents N.J. CUs at NCUA Region II Meeting

HARRISBURG, PA – The New Jersey Credit Union League (NJCUL) attended the National Credit Union Administration (NCUA) Region II meeting, hosted by the Pennsylvania Credit Union Association (PCUA), at PCUA's headquarters on Friday, September 22. NCUA Regional Director Jane Walters, Associate Regional Director Wendy Angus, and Associate Regional Director Michael Ryan joined NJCUL President/CEO David Frankil in a dialogue on key issues facing the credit union movement.

Also in attendance were league presidents and several staff members from the New Jersey Credit Union League, Pennsylvania Credit Union Association, Cooperative Credit Union Association, MD|DC Credit Union Association, Ohio Credit Union League, Virginia Credit Union League, and West Virginia Credit Union League.

The group engaged in meaningful discussion on the Stabilization Fund refunds, loan securitization, proposed merger procedures, new CECL requirements, cybersecurity, Military Lending Act, BSA compliance, and the NCUA Regulatory Reform agenda. A portion of the meeting also focused on the following NCUA exam issues:

  • MBL Rule Examination
  • Risk Based Scheduling
  • Updated Exam Cycle
  • Appeals Process
  • Regional Office Restructuring Plan

“NJCUL is committed to participating in meaningful dialogue with NCUA to ensure that credit unions’ voices are heard and their interests represented,” said Nicola Foggie, NJCUL vice president of compliance and regulatory affairs. "We appreciated the opportunity to partner with our peer associations and leagues to provide feedback on regulatory and examination issues to the agency. I would like to personally thank NCUA Region II Director Jane Walters and her staff for listening to our concerns and look forward to continued, meaningful dialogue on issues that matter to our credit union members.”