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NCUA Inspector General Blasts Lax Resolution Follow Up

NCUA examiners didnt follow up on many documents of resolution and as a result gave better CAMEL ratings to some credit unions than they deserved, according to a report by the agencys Office of Inspector General.

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NCUA examiners didn’t follow up on many documents of resolution and as a result gave better CAMEL ratings to some credit unions than they deserved, according to a report by the agency’s Office of Inspector General.

The report concluded that as a result of inadequate actions by examiners and regional officials, 45% of the 74 credit unions that failed or were part of an assisted merger from 2008 through 2010 were regularly given CAMEL 1 and 2 ratings.

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