| Text of Recommendation | OIG-21-11 Material Loss Review of Indianapolis’ Newspaper Federal Credit Union, issued December 15, 2021, Number of Open Recommendations: 1, Potential Cost Savings: $0
Recommendation #1—Enhance annual Small Credit Union Examination Program training related to concentration risk. Enhanced examiner training should include additional emphasis on applicable NCUA guidance (e.g., NCUA Letter to Credit Unions, 10-CU-03 – Concentration Risk), as well as discussion and training related to the application and enforcement of such guidance. Training should also include discussion of
the importance of application to smaller credit unions and the risk of loss to the Share Insurance Fund. |
|---|---|
| Recommendation Number | 2. Semiannual Report to the Congress (March 2022) |
| Recommendation Status | Closed |
| Significant Recommendation | No |
| Recommendation Questioned Costs | $0 |
| Recommendation Funds for Better Use | $0 |
| Additional Details Link |
| Submitting OIG | |
|---|---|
| Report Title | Semiannual Report to the Congress (October 1, 2021 - March 31, 2022) |
| Report Date Issued | Tuesday, May 17, 2022 |
| Report Agency Reviewed / Investigated | |
| Report Questioned Costs | $0 |
| Report Funds for Better Use | $0 |