“Neither I nor my attorney have had a response to my December request for NCUA to return to North Carolina so we can all have counsel present,” Jay said Tuesday. She also complained that her agency was left out of the loop in a letter sent Monday to North Carolina CUs detailing the conditional end of dual exams.

The NCUA has accused the state agency of violating regulatory trust and erring in authorizing the $26 billion State Employees' CU of Raleigh to publish its CAMEL 2 rating. The NCUA responded by conducting its own examinations of the state-chartered CUs, saying it was necessary to protect the NCUSIF.

That drew the ire of credit union executives, the North Carolina Credit Union League and from SECU President/CEO Jim Blaine.

Blaine has sharply and repeatedly blasted NCUA for its “complete lack of dialogue” with his CU and North Carolina CEOs on a matter he has deemed urgent to national interests on transparency. Meanwhile, the NCUA's David Marquis, executive director, said the agency “looks forward to resuming dual exams with the North Carolina state regulator upon termination of its pilot program authorizing federally insured credit union release of a CAMEL rating.”

Marquis concluded, “We await NCCUD's decision on whether it will reconsider this pilot program, so that we can move forward together to rebuild trust and resume joint examinations.”