NCUA Not Saying When California Credit Unions Return to Region V
Although NCUA announced Wednesday that 12 federally insured credit unions in Nevada would be returning to Region V after having been overseen by Region I since 2009, the agency may not do the same in California anytime soon.
“NCUA will return supervision of California’s federally insured credit unions to Region V at the appropriate time,” said NCUA spokesman John Fairbanks. “The number, size and complexity of credit unions in California require a longer planning timeline to ensure we have the right resources aligned with the transfer.”
NCUA moved credit unions out of Region V in 2009 to help more broadly spread the regulatory burden during the economic downturn.