office of Inspector General

• CFPB Levies $15 Million in Fines Against Mortgage Insurers

  By Heather Anderson  |  April 4, 2013

  Enforcement action over what bureau said were widespread kickbacks to lenders across the country.

• More Lessons Emerge With Details on Telesis Collapse

  By Michelle A. Samaad  |  April 3, 2013

  While it’s been a little over a year since Telesis Community Credit Union went under conservatorship, credit unions may find there are still more lessons to learn from the cooperative’s collapse.

• 4 Lessons Learned From Telesis Failure

  By Michelle A. Samaad  |  March 21, 2013

  Business services specialist points at MBL exposure, loan loss allowances, dependence on CUSO revenue, high operating expenses.

• Inspector General Blames Management, Board, Regulators for Telesis Failure

  By Heather Anderson  |  March 21, 2013

  New report cites CEO's aggressiveness and risk-taking, compliant board, lax oversight in California credit union failure.

• Telesis Loss Review Reveals NCUA Will Raise Some Net Worth Requirements

  By Heather Anderson  |  March 21, 2013

  OIG says agency should amend capital rules to reflect higher risk in member business loan portfolio.

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  Trailblazer Award: Political Action Honoree Thomas Renz Says He’s Always Been an Activist

  By Heather Anderson  |  February 27, 2013

  Thomas Renz, president and chief development officer for the $32 million Commodore Perry FCU, didn’t decide to become an activist when he appealed the credit union’s 2011 exam. Instead, the Credit Union Times 2013 Political Action Trailblazer Award winner contended that he’s always been one.

• Examiners Moved Out From the Shadows

  By Heather Anderson  |  December 19, 2012

  The list is long on 2012 news and actions emanating from the NCUA: CUSO loan participations rules, an easier op-in process for low income credit union designation, a 6.1% increase in the agency’s budget for the next fiscal year and the October departure of Gigi Hyland.

• OIG Denies Request for Commodore Perry Examiner Harassment Report

  By Heather Anderson  |  November 2, 2012

  Agency says request must “produce evidence that would warrant a belief by a reasonable person that an alleged Government impropriety might have occurred."

• Ohio CU’s Appeal

  By Heather Anderson  |  October 31, 2012

  Commodore Perry FCU President Thomas Renz said last week the reason the $32 million credit union filed an exam appeal–an accusation an NCUA examiner retaliated against the credit union in the form of a riskier CAMEL score–has been lost in the appeals process.

• NCUA’s Marquis: Appeals Panel Can Toss Commodore Perry Exam Findings

  By Heather Anderson  |  October 25, 2012

  Executive director says appeal could overturn findings and still not warrant improved CAMEL score in alleged sexual harassment case against examiner.