NCUA issues FAQs regarding Covid-19 and credit union operations

Federal Issues Covid-19 NCUA Bank Secrecy Act Credit Union

On March 25, the National Credit Union Administration (NCUA) issued FAQs regarding the impact of Covid-19 on the NCUA and credit union operations. The FAQs answer questions regarding, among other things, flexibility for federal credit unions in planning annual meetings and monthly board of director meetings, restrictions on access to or closure of facilities, the impact of Covid-19 on the NCUA’s examination and supervision program, and deadlines for submission of certain filings (e.g., Call Reports, annual capital plan and/or stress testing, Bank Secrecy Act reports).