Lobby of the NCUA.

Anticipating the second-guessing that’s likely to take place as a result of the Melrose Credit Union debacle, former NCUA Chairman Dennis Dollar Wednesday strongly defended the agency’s handling of credit unions burdened with taxi medallion loans.

“It’s only natural in a case like this that there have been some critics who are questioning why NCUA didn’t do more in advance to avoid this situation with the losses at the taxi medallion credit unions,” Dollar told CU Times.  “While we all regret what has happened to those medallion loans and wish that someone had seen the collapse coming ten years ago, to me it is not a fair or reasonable complaint that NCUA missed the boat here.”

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David Baumann


Credit Union Times

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