GAO Report Notes NCUA's Need to Strengthen Oversight
The Government Accountability Office today released a report on the National Credit Union Administration, titled "Additional Actions Needed to Strengthen Oversight."
The GAO makes three recommendations to NCUA, including that it more fully leverage the component ratings that indicate credit union deterioration and that it document which office should ensure timely completion of post mortem reports on failed credit unions.
GAO analyzed the causes of credit union failures between 2010 through 2020 and observed opportunities for NCUA to enhance its oversight.
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