Readers Comment on Late Filers, Defaulters
February 19, 2016 6:01 PM
Are you passionate about unions? Then Credit Union Journal wants to hear from you.
At cujournal.com, you can do more than just read about the news you can have your say about it, too. Leave comments on specific articles and spark a discussion on the issues that mean the most to you.
Recent comments have focused on NCUA's efforts to push CUs to file call reports on time and the length of the exam cycle, whether mortgage lenders are willing to give strategic defaulters a second chance and just how "voluntary" the cyber risk tool really is.
Read on to see excerpts of some of your colleagues' latest comments. Then go to cujournal.com and post some of your own thoughts.
Better Late Than Never? NCUA Gets Pushback on Late Filing
You're kidding me right? What personnel in charge of accounting does not work on January 1? The fact that there are two holidays in the period is an advantage not a detriment. January 1 was a Friday. You work Friday, Saturday, and Sunday and you are finished with the call report by the first working day of the month. I do it works every time.
Posted by pfcu2355 | Jan. 26 at 4:15PM ET
More on Better Late Than Never? NCUA Gets Pushback on Late Filing
I agree. This can't possibly be an issue. I want fewer rules too, but the ones that are on the books should be complied with. What I really want to prioritize is an 18-month cycle [Former NCUA Chairman and current consultant Dennis] Dollar is right that without up-to-date financial info, no regulator could responsibly lengthen the cycle.
Posted by anonymous | Jan. 2 at 8:31AM ET
Are Lenders Ready to Give Strategic Defaulters 2nd Chance?
We, here at The Florist FCU, have been ready for years. In fact, we are already helping those who were hurt by Wall Street greed and lost their homes. It was always our contention that Wall Street's speculation was partly based on the fact that the majority of homeowners would do everything they could to save their homes, and did. But some saw the injustice of the thing, and left, too much pain and heart break. So, if you are asking me if we should be prepared to help them, it was never a question with us.
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Is Cyber Risk Tool Now 'Voluntary' in Name Only?
Cybersecurity is an important national concern. That said, it is worth noting that the FFIEC-member banking agencies, including the NCUA, have been severely criticized by the U.S. Government Accountability Office (GAO) www.gao.gov , and by their respective Offices of Inspector General in respect to FISMA, concerning the agencies' own problems with cybersecurity. The federal government needs to get its own act together first, before it starts to penalize the private sector.
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