According to NCUA's website, the last time a federal credit union was assessed a civil money penalty was 2006 and that was for HMDA violations.
Since then, the agency has not reported fining any federal credit unions.
This either means federal credit unions are doing a stellar job, NCUA has decided to not report these fines, or NCUA has decided to not assess any fines.
If I was betting, my wager would be that this agency has decided to not assess any fines or not to report these civil money penalties.
Please, no more bets. The agency is already gambling with only $1.3B of unused borrowing line as the liquidity backstop for a $1Trillion system.
ReplyDeleteHow is that not front page wall street journal news?
DeleteA public calamity in the making.