Matz Acknowledges NCUA's Role in Corporate Losses
NCUA Chairman Debbie Matz said she fully recognizes the legitimate anger many feel as a result of corporate credit union losses. Many blame the NCUA, particularly at seized U.S. Central FCU and Western Corporate FCU, where two examiners worked on-site.
"NCUA definitely shares some of that blame," Matz told those attending yesterday's Texas Credit Union League annual meeting in Grapevine, Texas. She added, "So do the managers and boards of those corporates who exercised such poor judgement."