The charts at the bottom of this post show the number of supervisory actions issued in 2010 and 2011. Both Preliminary Warning Letters and Letters of Understanding and Agreement jumped sharply in 2011 compared to 2010.
There were 135 Preliminary Warning Letters issued for 2011 -- an increase of 382 percent from 2010.
There were 465 Letters of Understanding and Agreement issued for 2011 up from 333 for 2010. However, don't go looking for these Letters of Understanding and Agreement, because almost all (463) were not published.
The only category of supervisory action that fell for 2011 was Cease and Desist Orders, which were down by 3 to 25 issued for 2011.
Information for the number 2010 supervisory actions can be found in NCUA's 2010 Annual Report. However, 2011 information was obtained by filing a Freedom of Information Act request with NCUA; because the agency did not disclose this information in its 2011 Annual Report.
Thanks for filing the FOIA. It's a shame that such a "transparent" agency makes it so difficult to get information.
ReplyDeleteI find it interesting that the number of supervisory actions went up by 60%, while the NCUSIF reserve for losses went down by 50%. But everything's fine - right?
Gee. Didnt think it possible but the credit unions could rival the corporates.
ReplyDeleteNcya (mot a typo) is the new pinnocho and its nose stretches round the globe.
How does ncya justify taking half the reserves of ncusif and putting into profit.
What was the quote december 2011, we dont need it. Cus doing better.
Hmmm.
Maybe david green has the answer. Hey david. If a tree falls in the woods does it make a sound?
Get it yet david?
Der.