Commodore Perry FCU President Thomas Renz said last week the reason the $32 million credit union filed an exam appeal–an accusation an NCUA examiner retaliated against the credit union in the form of a riskier CAMEL score–has been lost in the appeals process.
Renz said communication from the NCUA conflicts with his understanding of the appeals process, leaving him unsure how to prepare for his appearance before the NCUA's Supervisory Review Committee, scheduled for the week of Nov. 5 pending agreement by both parties on an exact date and time.
Rather than prove the exam was inaccurate or that the examiner retaliated, Renz said he has been instead been told the credit union must prove Regional Director Herb Yolles' reasoning was "erroneous" when he denied the original appeal.
Continue Reading for Free
Register and gain access to:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts.
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders.
- Educational webcasts, white papers, and ebooks from industry thought leaders.
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com.
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
