Corporate Loss Reduced, Assessment Remains
The NCUA reported March 28 that following a twice-annual review, the highest estimated amount credit unions have yet to pay in corporate assessments has declined by $900 million.
That leaves just $1.6 billion to $3.9 billion in assessments yet to pay, less than the $4.1 billion that credit unions have already paid in corporate assessments since 2009.
"To me, it’s contingent upon what caused the assessment to be overstated," Mahalak said. "Was this something the NCUA or credit union should have known beforehand? Was the NCUA too cautious to say anything about a potential recovery?"
Mahalak added that the NCUA is unlikely to miss the mark by much, but if the agency does, it will err on the side of overcharging.