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The NCUSIF's provision expense shows no relationship to actual losses over the past five years, Filson says.

Callahan & Associates Chairman Chip Filson and his Co-Ops for Change campaign challenged the NCUA’s audit of the National Credit Union Share Insurance Fund’s 2013 financial statements.

Although the clean opinion was presented accurately from an accounting standpoint, Filson said in an April 17 release, it offers little value, due to flawed methodology revealed from back testing, and no discussion about the results.

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