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NCUA Identifies Supervisory Priorities for 2023

Michael Christians • January 19, 2023

The National Credit Union Administration (NCUA) has notified federally insured credit unions of its supervisory priorities for 2023 via letter 23-CU-01. You can access the full letter here.

The NCUA's primary areas of supervisory focus for the new year include:

Interest Rate Risk
Liquidity Risk
Credit Risk
Fraud Prevention and Detection
Information Security; and
Succession Planning.

In addition, the agency will target the following areas specifically related to consumer financial protection:

Overdraft Programs
Fair Lending
The Truth in Lending Act; and
The Fair Credit Reporting Act.

Finally, the letter reminds us that the new Current Expected Credit Loss (CECL) accounting standards took effect for most credit unions on January 1, 2023.

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