Some credit union executives, anxious for the NCUA to reveal its corporate balance sheet solution, say they fear a pending corporate "Black Friday," during which the regulator places three or more corporates into conservatorship or forces mergers.
Credit unions that want to be considered as potential merger and purchase and assumption partners will be able to sign up for a registry the NCUA is developing, NCUA Chairman Debbie Matz announced in a recent letter to credit unions.
KPMG gave the NCUA an unqualified audit but found material weaknesses in the reporting and documentation methods.
Proposed new regulations on mergers and mutual bank conversions encroach on state autonomy,
Allowing credit unions to raise supplemental capital that is counted toward net worth requirements is an "appropriate policy consideration,"
An independent consumer financial regulator might be less sensitive to the safety and soundness implications of potential new rules than one housed inside the Federal Reserve.