Off the Record, On the Issues with John

Updates on the CFPB nomination, 2025 compliance trends, and rising youth fraud.

By John Alexander, DakCU Director of Legislative & Regulatory Affairs

​NCUA Directors Address Exam Concerns, Record Retention, and Transparency at Western Regional Meeting
This week was an important one for the leagues. The Dakota Credit Union Association (DakCU) Advocacy Team participated in a Western regional meeting with National Credit Union Administration (NCUA) leadership, including all four regional and acting directors. It was an opportunity to bring together some of the brightest minds in our movement and get real-time insight into the turmoil and uncertainty we are all watching unfold in Washington, D.C.

The conversation moved quickly. What felt like a few moments was, in reality, nearly three hours of focused discussion. As you might imagine, we covered a lot of ground. In advance of the meeting, we collected questions from credit unions across our region, and this week we were able to put those questions directly to NCUA leadership and hear answers straight from the source.

One of the most common themes was frustration with remote examinations and repeated document uploads. Many credit union professionals described situations where examiners requested the same loan files or policy documents multiple times, or asked staff to re-scan and re-upload information that had already been provided in prior exam cycles. That takes time away from serving members. If this sounds familiar, there is some good news. NCUA made it clear they are willing to come on-site again if that is your preference. They are also open to hybrid models—some work done remotely, some in person—so you can tailor an approach that works for your team. The key is to ask and keep the lines of communication open. Examiners can be just as anxious walking into a new credit union as you are when you see a new examiner’s name on the calendar.

We also raised long-standing concerns about records retention. Many Dakota credit unions are approaching, or have already passed, milestone anniversaries—60, 70, even 90 years in operation. It is not unusual for a credit union in our region to be holding boxes or digital archives dating back to the 1960s. We are all trying to balance multiple record-keeping rules from NCUA, state regulators, and other agencies. The problem is that Part 749 tells us what must be retained, but not clearly when it is safe to destroy old, confidential records. That ambiguity leaves credit unions feeling compelled to keep “everything, forever,” which is neither efficient nor risk-free.

The message from NCUA on this front was “guidance is coming, but not tomorrow.” They acknowledged the gap and indicated that more direction on what to keep, and for how long, will likely be addressed through a future notice of proposed rulemaking. It is not expected to be at the top of the administration’s agenda, but it is on their radar for discussion, likely sometime in 2026. It is not the immediate resolution we would like to deliver back to you, but candor and transparency matter when we are talking about sensitive operational and regulatory issues. We will keep this on our watch list and update you as soon as there is movement.

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​Roger Heacock Scholarship: Deadline Approaching
In other news, the application window for our Roger Heacock Scholarship is closing soon, and we do not want Dakota credit unions to miss out. This scholarship is designed specifically for smaller-credit-union professionals at institutions with assets under $250 million. The goal is simple: remove the financial barrier so you—or a member of your team—can get to Washington, D.C.

Recipients receive support to attend the Governmental Affairs Conference and join DakCU for our Hike the Hill activities that Thursday. While in D.C., participants will network with credit union leaders from across the country and join DakCU meetings with key federal policymakers, including Senator Thune, Senators Rounds, Cramer, and Hoeven, as well as Representatives Johnson and Fedorchak.

If you are unsure whether you qualify, or even if you are on the fence about going, reach out and we can talk it through. You can email me directly by clicking here.