Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

Washington
Inside Washington (07/22/2010)
* WASHINGTON (7/23/10)--In a farewell speech Wednesday, Comptroller of the Currency John Dugan suggested that regulators re-examine the regulatory regime of prompt corrective action (PCA). PCA proved valuable during stable economic times, but its record was “far less positive” during the past three years. “During this period, declining capital levels of banks--on which the PCA regime is fundamentally premised--lagged far behind the relatively sudden and large problems caused by troubled construction and development loans that precipitated failure,” Dugan said, noting that 45 national banks have failed since early 2008. All had capital amounts exceeding PCA requirements. But commercial real estate and other loan charge-offs that troubled the firms didn’t spike until 2009, when the institutions were closed. By then, regulatory intervention authorized under PCA was too late to avoid failures and losses, he said. Dugan, whose term ends Aug. 14, had a five-year tenure as comptroller ...


RSS





print
News Now LiveWire
.@TheNCUA posted resources 2 help consumers protect themselves,take action if they believe they were ID theft victims:http://t.co/HVaikbuT9H
43 minutes ago
.@TexansCU, under conservatorship of @TheNCUA, reported continued growth in 2014. http://t.co/1iWLrhHBGy
2 hours ago
.@TheBuffaloNews picks up @Bankrate's mortgage must-haves with @CUNA personal finance expert Susan Tiffany http://t.co/pEwAgurrAl
3 hours ago
.@AmericaSaves launches excellence in savings designation for #creditunions #NewsNow http://t.co/WzL4BqaWuG #AmericaSavesWeek #ASW15
3 hours ago
#NewsNow Washington DFI adds 'S' to CAMEL rating http://t.co/8OFaN21Vkz
4 hours ago