WASHINGTON — Cognizant of its far-reaching–and now costly–plan to rescue corporates though NCUSIF assessments, NCUA Tuesday appeared ready to defend its "corporate stabilization" package through an ongoing series of meetings and Webinars with trade groups and lawmakers.
In many cases, NCUA regional directors have been dispatched across the U.S. to meet with CEOs and others to fend off criticism of the agency's Jan. 30 proposal contained in a 60-day "Advanced Notice for Proposed Rule" aimed at recapitalizing deeply troubled U.S. Central.
"We knew in advance that this was a big event requiring a special national effort and strategy," declared John E. Kutchey, acting director of NCUA's Office of Examination and Insurance in detailing the agency's informational rollout.
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