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Ex. AGY-FED-FINANCIAL-032 Context (guidance or announcement) Primary source read

Letter to Credit Unions 20-CU-05

Offsite Examination and Supervision Approach

NCUA · United States; National Credit Union Administration (federal) (Federal)

The COVID Project
Context, not an order

This record is guidance or an announcement kept for context. It is not counted among the orders in force.

The record

Jurisdiction
United States; National Credit Union Administration (federal)
Level
Federal
Authority
12 U.S.C. § 1756; § 1784
Issued
2020-03-01 Mar. 1, 2020
Effective
2020-03-16
End
Updated by 20-CU-17 (May 2020, Ex. 043) and 20-CU-20 (June 2020, Ex. 046); off-site policy continued until Phase 1 of on-site return on July 19, 2021 (Ex. 066) (read as 2021-07-19)
In force
Mar. 16, 2020 to July 19, 2021
Quarters
2020 Q22020 Q32020 Q42021 Q12021 Q22021 Q3
Limitation types
Telework mandateOther
Addressees
  • boards of directors and chief executive officers of federally insured credit unions
Functions reached
  • OP examinations (no examiners on premises; document production remote)
  • HR
  • BR premises access
Character
context
Collection
Federal financial regulators AGY-FED-FINANCIAL

Operative words

In response to the COVID-19 pandemic, the NCUA mandated a strict offsite policy for all employees and contracted support staff as of March 16, 2020. All NCUA examinations will take place offsite through May 1, 2020, and this offsite policy will remain in effect until further notice.... During this time, the NCUA will limit the burden imposed on credit unions so that they can focus on providing uninterrupted service to their members.

Enforcement

NCUA examination program; 12 U.S.C. § 1756

Notes

A federal agency's mandate that its own staff not enter credit union premises; the counterpart of the closure of those premises to the public

Retrieval note

Month-dated letter (March 2020). Cite it as context and cite the underlying order, statute or emergency rule it describes as the instrument. (Bulletins whose operative text imposes a mandatory duty on licensees under the regulator's own authority are excluded from this downgrade and listed separately for review.)).