Stronger Supervision of Credit Unions Needed
GGD-83-12
Published: Oct 06, 1982. Publicly Released: Oct 06, 1982.
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Highlights
GAO reported on National Credit Union Administration (NCUA) efforts to supervise both federal credit unions and, in shared responsibility with the states, federally insured state credit unions.
Recommendations
Recommendations for Executive Action
| Agency Affected | Recommendation | Status |
|---|---|---|
| National Credit Union Administration | The NCUA Board should clarify for regional personnel the purpose and circumstances for which preliminary warning letters and administrative actions should be used, including guidance as to when mild actions should be replaced by stronger ones. |
Closed – Implemented
When we confirm what actions the agency has taken in response to this recommendation, we will provide updated information.
|
| National Credit Union Administration | The NCUA Board should direct that problem credit unions be properly classified and institute periodic reviews to ensure that ratings are properly assigned and reflect the credit unions' conditions. |
Closed – Implemented
When we confirm what actions the agency has taken in response to this recommendation, we will provide updated information.
|
| National Credit Union Administration | The NCUA Board should initiate and complete a comprehensive study of State examination programs which includes standards by which the acceptability of the various State programs can be measured. |
Closed – Implemented
When we confirm what actions the agency has taken in response to this recommendation, we will provide updated information.
|
| National Credit Union Administration | The NCUA Board should establish a process whereby NCUA can monitor future changes in the State examination programs. |
Closed – Implemented
When we confirm what actions the agency has taken in response to this recommendation, we will provide updated information.
|
| National Credit Union Administration | The NCUA Board should develop standards and guidelines for regional staff to assess the reliability of State examination data. |
Closed – Implemented
When we confirm what actions the agency has taken in response to this recommendation, we will provide updated information.
|
| National Credit Union Administration | The NCUA Board should develop guidelines for regional staff regarding actions which should be taken to monitor problem State credit unions and to determine when Federal intervention is necessary. |
Closed – Implemented
When we confirm what actions the agency has taken in response to this recommendation, we will provide updated information.
|
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Topics
Agency missionsCredit unionsstate relationsMonitoringRegulatory agenciesFederal credit unionsState programsDelinquent loansFinancial institutionsStatistical data