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Senate Mandates Study of NCUA Actions On Corporates

The Senate has passed a measure which would require the Government Accountability Office to study NCUA management of the corporate credit unions and their financial crisis.

By David Morrison | Updated on December 16, 2010

The Senate has passed a measure which would require the Government Accountability Office to study NCUA management of the corporate credit unions and their financial crisis.

The GAO was asked to determine the reasons for the corporate credit union failures as well as to evaluate the NCUA reactions to those failures, including “protecting taxpayers, avoiding moral hazard, minimizing the costs of resolving such corporate credit unions, and the ability of insured credit unions to bear any assessments levied to cover such costs.”

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