An NCUA Office of Inspector General’s investigative report revealed that the federal regulator questions the safety and soundness of the $25 billion State Employees’ Credit Union, the nation’s second largest.
CEO Jim Blaine said nation's second-largest credit union is sound and that SECU "can't get a straight answer" from federal regulators.
State Employees' Credit Union chief says he disagrees with NCUA inspector general's findings in new report.
Office of Inspector General says regional chief did not make false statements about N.C.'s SECU following CEO Jim Blaine's disclosure of its CAMEL score.
North Carolina dual exams expected to be topic of Hike the Hill, NCUA visit on May 8-9.
In the ongoing pursuit to recover alleged mismanaged funds, another lawsuit tied to the collapse of New London Security Federal Credit Union has been dismissed.
The five members who are suing the NCUA for what they claim was negligence on the agency's part in the collapse two years ago of New London Security Federal Credit Union will have to wait to recover any monetary damages.
Senators of both parties asked pointed, though not hostile, questions of NCUA Chairman Debbie Matz about how the agency dealt with the problems of corporate credit unions and whether the agency's examination procedures were adequate.
WesCorp's management didn't manage risk well and invested too heavily in residential mortgage-backed securities, while NCUA examiners failed to "adequately and aggressively," address the risks.
WesCorp's management didn't manage risk well and invested too heavily in residential mortgage backed securities while NCUA examiners failed to "adequately and aggressively" address the risks.