LENEXA, Kan. – Late yesterday, U.S. Central cleared up some of the "who knew what when" mystery surrounding the aggregate corporate's $1 billion bailout and resulting insurance premium levy on credit unions.
Spokesman Austin Braithwait confirmed U.S. Central told corporates in early January it estimated taking a 2008 year-end OTTI between $100 and $150 million. U.S. Central had presented members with a report compiled from analysis by three independent valuation firms in October that reported that amount. Braithwait said U.S. Central contacted each firm individually
to determine if there had been any changes to their evaluation models.
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