The NCUA will perform separate examinations for state-chartered federally insured credit unions in North Carolina because the state regulator there allowed the $23 billion State Employees' Credit Union to publicize its CAMEL rating.
News Update:
Feb. 10, 2012 - NCUA Says Dual Exams Over, For Now
NCUA Region III Director Herbert S. Yolles wrote all North Carolina state-charted federally insured CUs that the move, which means that all those financial institutions will be subject to two annual examinations, was necessitated because all other attempts to resolve the situation failed.
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