Tuesday, March 6, 2012

NCUA as Cheerleader

Once again, NCUA has confirmed my suspicion that this agency is a cheerleader for the credit union industry.

NCUA on March 2 announced the unveiling of a new CU Locator application (App) for iPhone, iTouch, and Android devices.

The agency says in the press release that the "app is just the latest example of how NCUA is connecting credit unions with younger audiences."

But why is NCUA, which is suppose to be the saftey and soundness regulator for credit unions, unveiling a CU Locator App? Shouldn't that be the job of a credit union trade association?

Moreover, is it the role of this agency to connect younger audiences with credit unions?

This is just another example of this agency being too cozy with the industry that it regulates.

Read the press release.
Posted by at
Labels: ,

6 comments:

  1. AnonymousMarch 6, 2012 at 6:59 AM

    Exactly the Chairman of NCUA is leading this agency as a cheerleader rather than as a safety and soundness regulator but are you really surprised.

    ReplyDelete
  2. AnonymousMarch 6, 2012 at 5:28 PM

    Maybe they created the app so THEY could find the CUs.

    ReplyDelete
  3. AnonymousMarch 6, 2012 at 6:02 PM

    maybe ncua was too busy on iphone apps and missed the bulk up of subprime mbs at ccus or that vensure fcu moved from ny to fla to az so that they could bulk up on fees by lending to full tilt poker?
    musta been the distraction of supervising st paul croation so closely!!

    ReplyDelete
    Replies
    1. AnonymousMarch 7, 2012 at 10:32 AM

      gosh that is precious. it would not be so darn funny and comical if it was not true. once again your have identified the issues.

      Delete
  4. AnonymousMarch 6, 2012 at 9:46 PM

    This is the same NCUA that has spent over $1.4 Million promoting Suze Orman as the NCUA consumer mouthpiece. Suze has just launched her own prepaid debit card. The same Suze that has advised consumers to walk-away from their mortgage commitments when they are upside down on their mortgage. With this type of leadership it is no wonder why credit unions are paying huge NCUSIF assessments.

    ReplyDelete
  5. AnonymousMarch 8, 2012 at 11:54 AM

    The leadership is comical all the Chairman has done is spend money at the credit union's expense.

    ReplyDelete

Subscribe to: Post Comments (Atom)
 

The content is provided for educational purposes only, with the understanding that neither the authors, contributors, nor the publishers of this site are engaged in rendering legal, accounting or other expert or professional services. If legal or other expert assistance is required, the services of a competent professional should be sought.

Comments appearing in response to articles appearing on this site do not necessarily reflect the views of the ABA. ABA makes no representations regarding the truth or accuracy of commentary or opinions that may be posted in response to the articles that appear on this website.

The inclusion herein of any link to a website, either in the text of an article or in a comment, does not denote any approval, sponsorship, or endorsement by the ABA, and ABA is not responsible for the content or opinions expressed on those linked websites or related commentary. This content is not licensed to third parties sites and is not affiliated with any third party site. Any reference to the author or this content on any third party site on the Internet is not authorized by the ABA.

It is the policy of the American Bankers Association to comply fully with all antitrust laws. Certain discussions should be considered off-limits, including those that contain competitively sensitive data such as price and cost information, or statements that could be construed as reflecting an attempt or desire to control or influence a particular market or markets. Future pricing or other prospective competitive information should never be shared.