NCUA examiners didn’t follow up on many documents of resolution and as a result gave better CAMEL ratings to some credit unions than they deserved, according to a report by the agency’s Office of Inspector General.
One quarter of the unresolved items related to management issues.
ALEXANDRIA, Va. — If current financial trends continue, the NCUSIF's equity ratio will likely end the year at between 1.28% and 1.32%, which could mean a lower assessment to pay for the corporate credit union rescue, NCUA Chief Financial Officer Mary Ann Woodson told the agency's board last Thursday.
ALEXANDRIA, Va. — The NCUA Board on Thursday approved a rule allowing assistance to a troubled credit union or a credit union acquiring a troubled credit union to count as regulatory net worth.
ALEXANDRIA, Va. — CUSOs would have to submit financial reports to the NCUA and there would be limits on the investments certain credit unions can make in CUSOs, according to a proposed rule the NCUA sent out for comment on July 21.
NCUA General Counsel Robert Fenner and Office of Examination and Insurance Director Melinda Love both plan to retire later this year, the agency announced last week.
NCUA General Counsel Robert Fenner and Office of Examination and Insurance Director Melinda Love plan to retire later this year, the agency says.
Credit unions probably won’t have to pay a premium for the NCUSIF, but the NCUA is still trying to encourage them to part with more of their money.
ALEXANDRIA, Va.--NCUA Chief Financial Officer Mary Ann Woodson today told the board that in November for the first time this year there were declines in the number of troubled credit unions.
ALEXANDRIA, Va. -- Federally insured credit unions that are insolvent, in conservatorship or have ratings of CAMEL 4 and 5 would be prohibited from offering golden parachutes to their executives under a proposed rule.