Credit unions "have lost confidence and trust in their regulator" as a result of NCUA's unwillingness to disclose data that led to the decision to place U.S. Central Federal Corporate Credit Union and Western Federal Corporate Credit Union into conservatorship, CUNA President Dan Mica wrote NCUA Chairman Michael E. Fryzel, last night.
Mica said that every credit union that has weighed in has "expressed concern, outrage, anger and frustration at the current situation."
He requested that NCUA provide additional information on the analysis of corporate credit union assets by PIMCO by the end of Friday.
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