The National Credit Union Administration (NCUA) has published its Office of the Ombudsman 2024 Annual Report. This report provides insights into the Ombudsman’s core programs and their recommendations to the NCUA Board. It also outlines the activities undertaken by the Ombudsman in 2024, including examiner engagement, independent reviews of agency processes, and feedback from the Post Exam Survey.
The report mentions that during 2024, the Office of the Ombudsman processed 44 inquiries and complaints concerning data breaches and cyber threats at federally insured credit unions. Additionally, it made one recommendation to the NCUA Board regarding the agency’s consumer complaint process and resolved a total of 598 inquiries.
The NCUA Office of the Ombudsman serves as an independent, neutral, and confidential resource for credit union stakeholders to address issues related to supervisory processes or conclusions informally.
The NCUA is an independent federal agency established by Congress to regulate, charter, and supervise federal credit unions. It manages the National Credit Union Share Insurance Fund with full backing from the United States government. This fund insures deposits for over 135 million account holders across all federal credit unions and most state-chartered credit unions. The NCUA also focuses on consumer protection and financial literacy education.