Submitting OIG:
Report Description:
The National Credit Union Administration Office of Inspector General contracted with Moss Adams LLP to conduct a Material Loss Review of C B S Employees Federal Credit Union, a federally insured credit union. We reviewed the Credit Union to: (1) determine the cause(s) of the Credit Union’s failure and the resulting estimated $39.5 million loss to the National Credit Union Share Insurance Fund (Share Insurance Fund); (2) assess the NCUA’s supervision of the Credit Union; and (3) provide appropriate suggestions and/or recommendations to prevent future losses.
Date Issued:
Tuesday, February 11, 2020
Agency Reviewed / Investigated:
Submitting OIG-Specific Report Number:
OIG-20-01
Location(s):
Agency-Wide
Type of Report:
Audit
Questioned Costs:
$0
Funds for Better Use:
$0
Number of Recommendations:
2
View Document:
Attachment | Size |
---|---|
ncuaoig-material-loss-review-cbs-employees.pdf | 1.6 MB |
Additional Details Link: