Florida Representative signs “Dear Colleague” letter on NCUA exams

A second Florida Representative has signed a “Dear Colleague” letter asking the NCUA to be committed to returning to an 18 month exam cycle. Rep. Dennis Ross (R-FL) joins Rep. Bill Posey (R-FL) as the first two members of the Alabama and Florida delegation to sign the letter.

The  NUCA had worked on an 18-month exam cycle prior to the economic downturn. Credit unions remained particularly healthy during that time as an industry. With the economy improving and the credit union industry even healthier, the League and CUNA would like to see the NCUA return to the 18-month cycle for the healthiest credit unions.

Reps. Frank Guinta (R-NH) and Ruben Hinojosa (D-TX) drafted the letter to NCUA Chairman Debbie Matz asking for the NCUA’s board to remain committed to regulatory relief, particularly in terms of returning to the 18-month exam cycle. Congress has until Feb. 16 to sign the letter before it goes to the NCUA.