Wednesday, June 24, 2015

Once Again, NCUA's 2014 Annual Report Lacks Info on the Number of Enforcement Actions

The National Credit Union Administration (NCUA) released its Annual Report yesterday and once again did not publish the number of preliminary warning letters, the number of letters of understanding and agreement (published and unpublished), and the number of cease and desist orders issued to credit unions for 2014.

On the other hand, the other federal banking agencies provide summary statistics regarding enforcement actions taken against institutions they supervise in their annual reports to Congress.

I do not understand why this agency is averse to releasing this information. Does NCUA believe releasing this information would caste credit unions in a negative light?

Read the 2014 Annual Report.

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