Thursday, July 5, 2012

2011 Annual Report Has No Info on Enforcement Actions

Unlike its 2010 Annual Report, NCUA's 2011 Annual Report, which was released on July 3rd, has no information on the number of enforcement actions taken by the agency against credit unions in 2011.

Not only does NCUA not publish enforcement actions against individual credit unions (except for the rare case), the agency is not providing summary statistics on such enforcement actions.

This is a regrettable step backwards with respect to transparency by NCUA.

In comparison, the other banking regulators disclose such enforcement actions against individual banks and provide summary statistics on enforcement actions in their annual reports to Congress.

Read the 2011 Annual Report.
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