NCUA Official Acknowledges Legacy Assets Secrecy
An NCUA official said the credit union regulator has not formally consulted with corporate executives regarding the legacy assets plan.
The NCUA staffer, who requested anonymity, confirmed that the regulator's board members and senior staffers have only had informal, "anecdotal" discussions with corporate executives on the topic. There has not been a formal comment process, nor has the NCUA told corporate executives which investments may be removed from their portfolios.
However, the staffer said the NCUA has consulted with market experts outside the credit union system who specialize in law, accounting and structured finance.