Tuesday, September 15, 2015

Supervisory Actions at Closed Board Meeting Need to be Made Public

On September 16, the National Credit Union Administration (NCUA) Board in a closed meeting will be considering 4 supervisory actions.

After the meeting, I believe the NCUA Board has an affirmative obligation to make public any supervisory actions that it take against credit unions.

It was the intent of Congress when The Financial Institutions Reform, Recovery, and Enforcement Act of 1989 became law that formal enforcement actions needed to be disclosed by federal banking regulators, including NCUA.



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