NEWS, EVENTS, PUBLICATIONS & EMERGING ISSUES

SW&M EMERGING ISSUE
March 25, 2009

SW&M's LETTERS TO NCUA REGARDING “REDEFINITION OF TOTAL ASSETS” AND ''ADDITIONAL REGULATORY CONSIDERATIONS REGARDING PCA''

As we continue to meet the challenges facing our credit union clients and the credit union movement as a whole, Styskal, Wiese & Melchione has been in correspondence with the NCUA on issues we feel are of critical importance in these difficult times. As a firm dedicated to our representation of credit unions, we are here to advocate for the relief and assistance vitally needed by the industry. To these ends we are making our correspondence available to the public.

SW&M’s March 4, 2009 letter proposes a redefinition of the term "total assets," solely for the purposes of Prompt Corrective Action.

SW&M’s March 5, 2009 letter further proposes NCUA action in other areas of prompt corrective action enforcement to account for the stress placed on credit unions by the economy and NCUA’s own actions.

Please click the links above to read both letters in their entirety.

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