Becker to NCUA: Examiners Applying Opinion to IRR Management
NAFCU President/CEO Fred Becker has fired off a letter to the NCUA Board urging the regulator to take immediate action regarding examiners using their own opinions and methods when shock testing credit union balance sheets for interest rate risk.
“They’re substituting their own opinions for those of the management of the credit union, as well as the expert advice they are getting from very well-qualified third parties,” Becker said of the feedback NAFCU has received from its members. “The examiner is not responsible for running the credit union. That’s for the board and management to do.”