Does NCUA Disdain the Dual System? Print Preview
- NASCUS CEO Calls proposed NCUA Troubled Condition rule “preemptive”
- Utah state CU regulator says recent NCUA rules negatively impact dual chartering system
- North Carolina League chairman says even federally chartered CUs should protect dual charter
The NCUA’s proposed rule that would allow it to declare state-chartered federally insured credit unions in “troubled condition” is the latest move by the federal regulator that has some state-chartered credit unions and their regulators crying foul.
Of the 49 state-chartered credit unions subjected to separate exams, four are so large that the remaining 45 represent only $1.5 billion in assets, he said.
“Let’s bring some reason to this. This is not a safety and soundness issue,” Braswell said. “I understand [the NCUA] has to protect the insurance fund but the dotted line here is just too strong to not connect their actions to retaliation against the North Carolina administrator.”