According to a recent post in the CU Journal: "Marquis noted that examiners’ finding are currently based on individual judgment and sound industry practice and the proposals in the bill would require NCUA and the bank regulators to develop standard measurements and other regulations to provide examiners with sufficient support for their judgments."
In Regulator-talk... that means "We call what's right or wrong, based upon how we see things... and our 20-something year old's with 2 whole weeks of training are eminently qualified to render an opinion as to what's right or wrong." "Standards? We don't need no stinking standards!... why that would have prevented WesCorp, US Central, Wescom, Arrowhead... and a whole host of other notable cu failures while we were
busy cashing our paychecks watching over their operations." "Why, good grief, if there were standards, cu's could tell us to go pound sand when we give them our sage advise." "Why the whole concept is unthinkable"... "We are large and in charge, until we appear in court; then we are a small agency represented by an incapable attorney who can't win a case no matter how much of a slam dunk it is!"
What they REALLY are saying is - We don't want to be held accountable! Good for CU*Answers and their putting forth the petition about CU Rights.
And they wonder why we shake our heads at NCUA?
The NCUA once again has provided compelling evidence to support a finding of being STUCK ON STUPID. Sorry but you can't fix dumb. There are no objective standards to an NCUA exam. It is all subjective standards. The NCUA will write you up for "Safety & Soundness" issues and yet can not provide any objective analysis to support their findings. At the expense of beating a dead horse where the heck was the NCUA at WesCorp, MembersUnited & USCentral? Now the NCUA does not want to be subjected to any examination reviews. If you were the NCUA you would not want to be subjected to an exam review. Defend the NCUA position. IMPOSSIBLE. Sorry folks, being stuck on stupid is not a defense. But wait one second now. We are talking about an agency of the U.S. Federal Government. Being stuck on stupid is the ordinary course of business. Marquis calls this individual judgment. Marquis mis-spoke. He meant to say "unsound judgment." The NCUA would not know a sound industry practice if it hit them in the head. The NCUA is out of control.
ReplyDeleteSorry 1st Thoughts but you have once again got it all wrong. The NCUA examiners have a NCUA approved Procedure Policy for conducting examinations. The Procedure Policy is called CUSTOM REGULATORY ACCOUNTING PROCEDURES - in the field it goes by the acronym CRAP. Credit Union's have experienced a lot of CRAP from the NCUA. There is more CRAP to come. For the NCUA to install specific objective measurements would be an impossible task to impose on CRAP. Objective measurements would be a burden to impose on all the CRAP. Actually it would require more CRAP at a time when we all need less CRAP.
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