The state chartered $141,494 Metropolitan Church of God CU is handed over to the NCUA for liquidation.
Net worth at the credit union drops from 11% in Sept. 2013 to 0.85% one year later.
NCUA says onsite WesCorp and other corporate examiners were limited by regs, not influenced by executives.
NCUA official says a lack of regulatory authority is to blame. Material loss reviews concur.
The NCUA liquidates the $5M Louden Community CU. Its June 30 financials are far better than peers.
After IBEW Local 816's July 10 liquidation, C-Plant picks up most of its loan portfolio and members.
ASI liquidates the $14M Illinois institution after declaring it insolvent.
The NCUA refuses to provide subpoenaed documents that could detail management and examiner responsibility for corporate failures.
NCUA Chairman Debbie Matz tells Congress the rule could have prevented 14 credit union failures.
The IBEW Local 816 FCU was ruled insolvent despite conflicting financial reports.