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GGD-83-12 1 (1982-10-06)

handle is hein.gao/gaobabdrd0001 and id is 1 raw text is: J 0


BY THE US, GENERAL ACCOUNTING OFFICE



Report To The Chairman

Of The National Credit Union Administration


tronger Supervision Of Credit Unions Needed


The National Credit Union Administration
(NCUA) insures both Federal credit unions
ard qualified State credit unions through the
National Credit Union Share Insurance Fund.
NCUA has full responsibility for supervising
F deral credit unions but shares the respon-
si bility with State regulatory authorities for
federally insured State credit unions.

R qgarding the supervision of Federal credit
u ions, this report discusses the reluctance of
N UA examiners to take more stringent ac-
ti ns to convince credit union management to
cq rrect problems. In the area of State-char-
tered federally insured credit unions, NCUA
la ks a comprehensive evaluation of the ade-
q~iacy and acceptability of each State's exam-
ination program. GAO recommends steps to
improve and strengthen supervisory actions
taken against Federal credit unions. GAO also
recommends that NCUA first determine the
aqceptability of various State examination
programs and then continue to monitor their
capabilities.


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GAO/GGD-83-12
OCTOBER 6, 1962


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