Credit Unions and Caisses Populaires
Public comment closed
Comment Due Date

Thank you for providing your feedback on FSRA’s consultation on Appendix E: Quality assurance and reconsideration process.

The request for submissions is now closed.

We appreciate the comments and questions received to date and look forward to sharing with you the final Rule. Stay up to date on FSRA’s Rules on our newsroom. Follow us on LinkedIn and subscribe to our mailing list for quick updates.

In response to stakeholder feedback, FSRA is proposing to improve the transparency of its quality assurance and reconsideration processes for credit unions.

These processes will ensure that FSRA's assessments are accurate and consistent, promoting trust, confidence, and stability in the credit union sector while protecting member deposits.

FSRA is describing the review process of up to five levels of quality assurance, depending on the credit union’s size, complexity and risk profile.

Credit unions can have an assessment reconsidered if they do not agree with the results.

The processes will be included in a new appendix, which will enhance and further clarify FSRA’s Risk-Based Supervisory Framework for Credit Unions.

FSRA welcomes feedback from all stakeholders. The consultation will close on February 8, 2024.

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FSRA continues to work on behalf of all stakeholders, including consumers, to ensure financial safety, fairness, and choice for everyone.

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