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Financial Services Law Insights and Observations

NCUA to seek information about emerging credit risks

Federal Issues Covid-19 NCUA Credit Risk Credit Union Forbearance Mortgages

Federal Issues

On April 29, the National Credit Union Administration announced that it expanded its Covid-19 outreach to federally-insured credit unions to identify emerging credit risks. The NCUA notified regulated entities that examiners will contact them between May 4 and May 18 to discuss a list of questions concerning operating status, status of cash reserves and withdrawals, liquidity status, loans in forbearance, and balance of loans with outstanding balances.