Friday, June 15, 2012

NCUA Should Publish P & A Agreements

NCUA should publish the purchase and assumption (P & A) agreements for closed credit unions.

FDIC is disclosing these agreements as part of the information packet for closed banks. For example, here is the P & A agreement between FDIC, as the receiver of Waccamaw Bank, and First Community Bank.

Also, FDIC in some instances publishes a summary of the bids for closed banks. The bid summary would allow credit unions and the public to compare the winning bid against other bids. Here are the bid summaries for two recent bank failures -- Alabama Trust Bank and Palm Desert National Bank.

The publishing of the P & A agreement and the summary of bids for a closed credit union would make NCUA more transparent and would make the agency more accountable.


  1. Why would we want that? Then we wouldn't be able to pretend, extend and deny.
    We like pretending, so,s we don't have to think, explain and decide.
    We want to extend to retirement.
    We deny there is a solvency problem with the fund.

  2. I couldn't agree more, but it will never happen. It's not in the agency's DNA to give out information that is 1)specific; 2)timely, or; 3)useful.

  3. Keith - Dream on. The NCUA will never disclose. They talk a great line about transparency. But the NCUA has never been transparent. The NCUA is accountable to no one. Look at all the corporate credit unions in conservatorship and subsequent liquidation not too mention the natural person retail credit unions. No one at the NCUA has been held to account. No one at the NCUA has been held responsible for their incompetent examinations during the periods of decline. Premier America CU grabbed Telesis for the asking. There were no competing bids. No one else wanted it. And the NCUA wanted it. The NCUA wanted go away. So now the entire credit union can pay more assessments for the give away to Premier America CU. Exactly the way the NCUA plays!



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.