Now in its sixth month, the CAMEL rating stalemate in North Carolina between the NCUA and the North Carolina Credit Union Division morphed into new territory last week with Jim Blaine, the president/CEO of State Employees' Credit Union, again attacking the NCUA's credibility.
Specifically, the head of the $24 billion Raleigh CU continued his combative and critical stance against NCUA policy over starting dual exams. He also complained about misstatements by top agency officials during a meeting last December with state Credit Union Administrator Jerrie Jay.
The issue now, said Blaine, is to examine how the NCUA is bent on injuring the dual banking system through its practices.
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