Superintendent Speaks at ICUL's Legislative and Regulatory Conference

March 8, 2019

Superintendent Katie Averill addressed the attendees of the annual Iowa Credit Union League's Legislative and Regulatory Conference.  Her speech focused on various topics ranging from legislative and rule changes to board engagement and examination objectives.  The below list provides some highlights of her remarks.

  • Examiners are reaching out to board members directly to include board members in the examination process.
  • Moneys and Credit Tax forms will be pre-populated and sent to credit union by mid to late March.
  • A new moneys and Credits Tax submission and payment process will take effect this year due to a legislative change last year.  Division staff will be communicating the changing process as more details are available.
  • Proposed rule changes 
  • Examination objectives include continuing to explore off-site work capabilities, using a Secure File Transfer Portal to share information, enhance regulatory compliance surrounding Customer Due Diligence and Beneficial Ownership, and small credit union audit committee involvement.
  • The division has three pending bills on merger communication, subpoena power outside on the examination process, and good faith document submissions.