Dedicated to Deposits: Deals, Data, and Discussion
Featured Savings Rates
Featured Accounts

NCUA Chairman Explains the Corporate Credit Union Bailout

Saturday, April 10, 2010 - 8:04 AM
In a speech given in Texas last Thursday, the NCUA Chairman Debbie Matz explains the corporate credit union crisis and why the NCUA undertook the bailout:
As I know you are all very aware, NCUA has taken decisive action to deal with the corporate credit union crisis. Yes: It was indeed a crisis. If we had not confronted the situation head-on - if we had allowed the corporate crisis to become a consumer crisis - the nation’s credit union structure would have faced a grave systemic risk.
1
Ken TuminKen Tumin5,469 posts since
Nov 29, 2009
Rep Points: 125,077
Reply