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It was recently reported that 75% of all credit unions are under some form of administrative action from the NCUA. Administrative action includes documents of resolution, letters of understanding and agreement and cease and desist orders. It seems that documents of resolution, in particular, have become a routine and frequent NCUA enforcement tool. For many credit union leaders, you are getting your first experience with this regulatory treatment. If you are seeing a DOR for the first time, don’t panic. It is important that you make every effort to fully understand the NCUA’s objectives before signing.

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Peter Westerman

Credit Union Times

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