ALEXANDRIA, Va. — The NCUA has given all corporates new examiners, made more use of outside experts and begun to hire payment system specialists.
The NCUA's Office of Corporate Credit Unions Director Scott Hunt described those steps in response to a question from Aspire FCU President/CEO Thomas O'Shea at the Oct. 19 town hall meeting on the agency's corporate credit union rescue plan.
Hunt noted, for example, that the agency had hired an outside firm to project corporate credit union credit losses because the agency lacked the capability to do so.
CUNA and NAFCU have been pushing the agency for improvements in the examination process, but their focus has been on natural person credit unions.
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