Ignoring a plea from NCUA Chairman Rick Metsger, Rep. Frank Guinta(R-N.H.) introduced legislation Thursday that would require theagency to adopt an 18-month exam cycle for certain creditunions.
In a letter to Guinta (pictured) earlier this week, Metsger saidhe hoped the congressman would hold off on the legislation andallow the NCUA to adjust the exam cycle itself.
To qualify for the 18-month cycle, under Guinta's bill, a creditunion must – in general – have less than $1 billion in assets, bewell-capitalized and have been found to be well-managed in its lastexam. Also, the credit union can't be the subject of a currentenforcement action.
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.
