Leaders of the $246 million San Diego Metropolitan Credit Union were not thrilled with a consent order handed down from the California Department of Business Oversight, but CEO Stan Abrams told CU Times he was nonetheless relieved to have finally received it.

“You need to understand, there were other consent orders before this one. Orders that we fulfilled, every single one of them,” said Abrams, CEO of the San Diego-based credit union. “We started out with a very big one that we worked to resolve and as we resolved it, it was replaced by smaller ones as we dug ourselves out.”

The four-point, May 13 order required the credit union to develop, adopt and implement a plan to materially reduce the risk in its troubled debt restructures portfolio, and fully document and support that the member has the ability to repay on future TDRs. The