The North Carolina Credit Union League hasn't given up on bringing the NCUA and North Carolina Credit Union Division to the bargaining table over issues that led to separate examinations of state chartered credit unions, league board Chairman Maurice Smith said.
State Administrator Jerri Jay's pilot program that allowed the $25 billion State Employees' Credit Union to release its state CAMEL rating will not continue beyond one year, and the NCUA has said it will not conduct separate exams if Jay discontinues the program.
However, Smith said a meeting is still necessary because the conflict is "plowing new legal ground as far as what a federal regulator's reaction should be when state's policy runs counter to its policy."
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
