Acting North Carolina Credit Union Administrator Rose Conner said she agreed to not release any state-issued CAMEL codes under her watch. That was good enough for the NCUA to agree Feb. 8 to end separate exams for North Carolina's state chartered credit unions. 

NCUA Chairman Debbie Matz confirmed the agreement, saying "Administrator Conner has given me her word that NCCUD's affirmative policy moving forward will not authorize any public release of confidential examination information, especially CAMEL ratings. With this new commitment and policy from the state regulator, we look forward to resuming joint examinations, training and open communications with NCCUD."

North Carolina's 52 state-chartered credit unions were subjected to separate exams in early 2012 by both the NCUA and state regulators after Conner's predecessor, retired Administrator Jerrie Jay, green lighted the publication of the $25.5 billion State Employee's Credit Union's state CAMEL codes. The NCUA said the exams were necessary because the release threatened the safety of the NCUSIF and violated the federal agency's trust in the North Carolina regulator. The NCUA had said it would cease the separate exams once the state regulator ended a pilot program that allowed the CAMEL codes release. That program expired in September 2012. However, Conner said, "at that point, the NCUA was not apparently ready to go back to doing the dual exams."