CAMEL Code Dispute Pits Feds vs. States
CAMELs aren’t usually a source of controversy in a place known for basketball and tobacco. At issue is the NCUA’s fight with state regulators over the release of the CAMEL rating of State Employees Credit Union.
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“Under state law, at my discretion I have the right to give permission to release a CAMEL rating. I worked with the attorney general’s office, and we didn’t see how what we did violated federal laws,” she said.
North Carolina Credit Union League President/CEO John Radebaugh said he is not giving up hope that there will be a resolution because the current situation will cause credit unions to spend more time and money on examinations and is a threat to the dual chartering system.