Business services specialist points at MBL exposure, loan loss allowances, dependence on CUSO revenue, high operating expenses.
New report cites CEO's aggressiveness and risk-taking, compliant board, lax oversight in California credit union failure.
OIG says agency should amend capital rules to reflect higher risk in member business loan portfolio.
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.
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.
Agency says request must “produce evidence that would warrant a belief by a reasonable person that an alleged Government impropriety might have occurred."
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.
Executive director says appeal could overturn findings and still not warrant improved CAMEL score in alleged sexual harassment case against examiner.
Credit union attorney agrees, says issue now is if regional director erred in nixing original appeal after NCUA backed examiner accused of sexual harrassment.
Ohio credit considering next move in appeal of case alleging harassment, bullying by NCUA examiner.