Monday, April 20, 2015

Matz: NCUA Not Participating in Operation Choke Point

In an April 15 letter to House Financial Services Chairman Jeb Hensarling, NCUA Chairman Debbie Matz stated that the agency "has not and will not participate in Operation Choke Point or any similar operation."

Matz also wrote that the agency does not dictate to credit unions, which businesses they serve, as long as the businesses are legal and within the credit union's field of membership.

Read the letter below.

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2 comments:

  1. Jim BlaineApril 21, 2015 at 7:35 AM

    Doc,

    Can you give us a little more "context"?

    Assume the increase is primarily due to uninsured shares ($250,000+) and borrowed funds ("Notes Payable"): anything else?

    Looks like sunny and in the 70's at Sunset Beach today.... so will understand if you don't "have time" to respond until after "porch drinks" later today.

    ReplyDelete
  2. Keith LeggettApril 21, 2015 at 10:51 AM

    Jim:

    It is a beautiful day.

    Factors accounting for differences includes accounts payable, uninsured deposits, borrowings or notes payable, lines of credit, and repos.

    Navy saw the largest jump in assessment base because borrowings were equal to about $2.6 billion in uninsured deposits and $11.4 billion in borrowings.

    ReplyDelete

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