NCUA Administrative Actions; Boardmember Hyland
Posted by Anthony Demangone
If you've been hit by an NCUA administrative action, you're not alone. Â Not by a long shot. Â In the most recent issue of The Safety and Soundness Report (paid subscription needed), an article lays out just how many administrative actions exist. Â The numbers grab your attention.Â
- 5,711 credit unions are operating under a Document of Resolution.
- 252 credit unions are operating under a Letter of Understanding and Agreement.
- 21 credit unions are operating under a Cease and Desist order.
- That's a total of 5,984 administrative actions as of June 1, 2010. Â Given that there are 7,554 credit unions in existence, it is easy to see that a solid majority of credit unions are under some sort of administrative action.Â
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NCUA Boardmember Hyland gave a data-rich speech at NAFCU's annual conference. Here's an article about her speech.  And her presentation slides are available here.  The slides would be wonderful to share with your board, I would think.  For example - why is NCUA focusing examination efforts on participation loans and member business loans?  Well, perhaps this is why:
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