PRESS RELEASE

FOR IMMEDIATE RELEASE

March 24, 2016

ESM PROGRAM LONG OVERDUE, SUPPORTED BY STATE REGULATORS
States can provide invaluable input based on their experience with other federal financial institution regulators

At today’s meeting, the NCUA Board approved two temporary positions at the agency to assist staffing for its Enterprise Solutions Modernization Program. With regard to the overall ESM program, NASCUS President and CEO Lucy Ito issued made the following remarks:

NCUA’s effort to consolidate its information technology and reporting systems to increase efficiency in examinations under its Enterprise Solutions Modernization Program is long overdue and supported by state credit union regulators. We also believe that state supervisory authorities’ input into this initiative will be invaluable given state examiner direct experience with other federal banking regulators' examination systems, and their own efforts at such modernization.  NASCUS and state regulators look forward to collaborating with NCUA to the fullest extent possible.

Information Contact:
Patrick Keefe, Vice President, Communications, pkeefe@nascus.org or (703) 528-5974

The National Association of State Credit Union Supervisors (NASCUS) is the primary resource and voice of the state governmental agencies that charter, regulate and examine the nation’s state-chartered credit unions. NASCUS membership is made up of state-chartered credit unions, state regulators and other supporters of the state credit union system. NASCUS is the only organization dedicated to the defense and promotion of the state credit union charter and the autonomy of state credit union regulatory agencies.