NCUA says onsite WesCorp and other corporate examiners were limited by regs, not influenced by executives.
According to a report commissioned by the New York Federal Reserve in 2009, the Fed's culture for lax supervision was to blame for the financial crisis in 2008.
Many examiners were reluctant to “press changes” on the supervised banks involved in Wall Street’s financial meltdown.
FOMC says keeping target range supports progress toward maximum employment.
As members continue to navigate in an economy still balancing on an unsteady tightrope, high unemployment and inflation may be the major drivers behind the Federal Reserve Board’s decision to raise interest rates.
Three more CEOs–representing some of the largest credit unions in New York state–have now been named to serve on a special bank/CU advisory panel of the Federal Reserve Bank of New York.
Credit unions seem to be gaining new stature in the Federal Reserve system based on new overtures from at least one key district bank, CU officials reported.
The Federal Reserve System seems at last to be acknowledging credit unions as important economic players based on new inquiries about district data, according to NAFCU's top economist.