Wednesday, July 25, 2012

Troubling Thoughts....

The NCUA Board Met 7/24/2012:

Q: Since we now have a proposed, new definition of a "troubled condition credit union"how would one go about defining a "Troubled Condition Agency"?

( See below....)

       A: 1)  * U.S. Central Federal CU
                 * Wescorp Federal CU
                 * Southwest Corporate Federal CU
                 * Members' United Federal CU
                 * Constitution Corporate Federal CU 
                 * St. Paul Croatian Federal CU 
                           (... but a $67 value!!!)

                                                         A:  2)  * Material weaknesses in financial reporting
                    * Troubled Debt Restructuring Botch
                    * Late GAAP & Congressional Reporting
                    * Arbitrary CUSO & Participation "Rules"
                    * Unsafe & Unsound Non-Basel Capital Standards
                                   (... but still a $67 value!!!)

               A:  3)   * Acknowledged lack of consistency   
                           * A "$67" Planning Horizon
                           * "Last Century" Management Practices
                           * Congressionally "Recognized" Arrogance
                           * "(What a) Legacy Leadership"
                               (... most definitely a $67 value !!!)

      "TROUBLING", isn't it...

... and you still don't think there is a need for reform ? 


Anonymous said...

NCUA New Examiner Training Graduation Photo!

What $67 In Planning Gives You!

Your New Highly Trained Examiners Will Be Consistent!

Anonymous said...

We are back to the staff trying to run the ship. And the leadership from the Chairman's office is a running joke now. Talk about a serious shake up is needed.