The Division of Credit Unions (DCU) issued Bulletin B-20-01 in January 2020, outlining the key areas of examination focus for 2020. Since that time, much has changed with the COVID-19 pandemic.
We are providing more detail regarding the specific items examiners will review pertaining to the four 2020 exam focus areas listed below and to emphasize the importance of making adjustments to the allowance for loan and lease losses funding analysis during an economic downturn.
The Division’s 2020 examination focus areas continue to be:
- Consumer protection law compliance
- Business Continuity/Disaster Recovery Testing