OIG for credit union regulator finds no programs susceptible to significant improper payments

The inspector general (IG) for the federal regulator of credit unions, in a recent letter to the chairman of the Senate Committee of Homeland Security and Government Affairs, says his office has found none of the agency’s programs to be susceptible to risk of significant improper payments.

The National Credit Union Administration (NCUA) conducts risk assessments of all its programs and activities annually, agency IG James Hagen said in a letter April 12 to committee Chairman Ron Johnson, R-Wis. “Based on those risk assessments, the NCUA has concluded that it does not have programs susceptible to significant improper payments.”

Hagen’s letter refers to an annual review that is required of federal agency inspectors general under the Improper Payments Elimination and Recovery Act (IPERA).

As detailed in Hagen’s letter, the IPERA defines “significant improper payments” as gross annual improper payments in a program exceeding both 1.5% of program outlays and $10 million of all program payments made during the year, or $100 million regardless of the percentage.

The committee’s ranking member, Sen. Claire McCaskill, D-Mo., was copied on the letter.

Letter from NCUA IG on Improper Payments Elimination and Recovery Act Review