For Details, Contact:
External Affairs
email: pacamail@ncua.gov
Fax: (703) 518-6409

Prompt Corrective Action Q&A Issued

Alexandria, Va., June 27, 2007—The National Credit Union Administration has posted the questions and answers (Q&A) discussed at last week’s monthly NCUA Board meeting by the Board and staff pertaining to prompt corrective action (PCA) reform. The Board meeting PCA reform Q&A is available online at http://www.ncua.gov/NCUABoard/board_reports/PCABoardQA-June.pdf.

The National Credit Union Administration is the independent federal agency that regulates, charters and supervises federal credit unions. NCUA, backed by the full faith and credit of the U.S. government, also operates and manages the National Credit Union Share Insurance Fund (NCUSIF), insuring the deposits of over 85 million account holders in all federal credit unions and a majority of state-chartered credit unions.