Former state official says a California chartered credit union has never converted to a bank.
Those who help credit unions turn into banks say business is picking up.
Had the NCUA's proposed risk-based rule been in effect in 2007, it could have saved the NCUSIF as much as $180 million.
Regulators don't have a charter conversion application from the $209 million credit union, which sent ballots to members in May.
The $209 million California credit union cites limits on business lending as its reason to leave the credit union fold.
The bank regulator has only adopted 28 of 39 GAO security recommendations. GAO report does not include the NCUA.
NCUA Chairman Debbie Matz tells Congress the rule could have prevented 14 credit union failures.
The 84 credit unions that face fines for late call reports can sign a consent form and pay fines. Or, they can fight them and pay dearly.
ALEXANDRIA, Va. – Watch those who attended the NCUA's listening session share their worries about risk-based capital.
Eighty-four credit unions face fines up to $106K for late call reports. Fighting the NCUA could cost them.