Why should we fight for them? They didn't fight for us!
It's clear that the C of act is missing. They can handle 5000 little credit unions. They cannot handle the rest who aren't and haven't been "in the mission" for years.
In fact of A C T, it's probably accurate to say (and scary) that they're a "1" in A, "2" in C and a "3" in T. As an overal ACT 2, they're seriously undercapitalized.
NO. It does not work. The regulator is spending too much time protecting the insurance vault - now that it has been raped, pillaged and plundered. We need a regulator that is separate and independent of the share insurance fund. The current system is rigged against the credit unions.
As a current CEO of a $75 million credit union. I don't have a problem per say with NCUA and I am very excited by the new board chair. However, there is no independent appeals process for credit unions to question their CAMEL ratings or even DORS. NCUA protects their field examiners, supervisors and regional directors even when there is proof that they are wrong and misquoting regulations and hiding behind "safety and soundness".
We need an independent body to oversee the appeals process.
I am! Are you?
6 comments:
Past sell by date.
Why should we fight for them?
They didn't fight for us!
It's clear that the C of act is missing.
They can handle 5000 little credit unions.
They cannot handle the rest who aren't and haven't been "in the mission" for years.
In fact of A C T, it's probably accurate to say (and scary) that they're a "1" in A, "2" in C and a "3" in T.
As an overal ACT 2, they're seriously undercapitalized.
The past - and current - performance of the NCUA is not the first question.
The first question is: Do credit unions need and want a separate, CU specific federal regulator and insurer?
Y/N? (Again think future - not past and present!
It is important to remember the adage: "Better the Devil you know than the Devil you don't!"
NO. It does not work. The regulator is spending too much time protecting the insurance vault - now that it has been raped, pillaged and plundered. We need a regulator that is separate and independent of the share insurance fund. The current system is rigged against the credit unions.
As a current CEO of a $75 million credit union. I don't have a problem per say with NCUA and I am very excited by the new board chair. However, there is no independent appeals process for credit unions to question their CAMEL ratings or even DORS. NCUA protects their field examiners, supervisors and regional directors even when there is proof that they are wrong and misquoting regulations and hiding behind "safety and soundness".
We need an independent body to oversee the appeals process.
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