Material Loss Review Highlights Potential Adjustments to NCUA Examinations. The National Credit Union Administration’s Office of Inspector General (OIG) recently published a material loss review (MLR) on losses relating to three credit union failures. The OIG determined the reasons the credit unions failed were due to such contributing factors as having: significant concentrations in taxi medallion loans; unsafe and unsound lending practices, in particular inadequate loan underwriting and monitoring of taxi medallion loans; and weak board and management oversight and inadequate risk management practices, including being unresponsive to repeated issues raised by examiners.
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