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Conservatorship: When NCUA Removes the Board & What You Need to Know
Manage episode 426558556 series 3303439
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NCUA has the authority to take what is called a conservatorship action, resulting in the credit union board of directors being removed. NCUA then wears 3 hats: insurer, regulator, and credit union operator - representing the interest of the members.
These are complicated and rare, but one happened last week, and a few happen every year. Steve, Todd, and I discuss everything you need to know about conservatorship.
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