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EX NCUA Experts Steve Farrar & Todd Miller on NCUA's Supervisory Priority Letter
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Discussing NCUA's Supervisory Priority Letter: Part Two
In this podcast, Mark Treichel is joined by Steve Farrar and Todd Miller for a second discussion of the priority letter from the National Credit Union Administration (NCUA). They delve into topics such as consumer financial protection, bank secrecy act, cybersecurity and support for small credit unions and minority depository institutions. The trio reflect on the importance of communication during the examination process, related budget implications and increase in resources in this area, and the rising priority of consumer financial protection. They also explore the timeliness or lack thereof of examination reports, highlighting the need for credit unions to maintain proper protocols and functions for comprehensive and timely examinations.
00:35 Introduction and Overview
01:26 Discussion on Consumer Financial Protection
07:29 Insights on Cybersecurity and Information Security
11:24 Bank Secrecy Act and its Implications
14:25 Support for Small Credit Unions and Minority Depository Institutions
17:01 Final Thoughts and Conclusion
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