The corporate credit union crisis: Does it call for reform or re-engineering&quest
Journal of Banking Regulation, 2015, vol. 16, issue 2, 89-105
Corporate credit unions were the focus of regulatory restructuring in the years before the financial crisis. Despite the attention from both congress and the regulators, and despite the regulator receiving monthly reports, the four largest corporate credit unions in the United States failed in the aftermath of the financial crisis, including the industry-founded central credit union. Corporate credit unions, that serviced retail credit unions, saw their net assets drop from a high of over US$111 billion in September 2007 to under $22 billion in June 2013. Most of that drop in assets represents credit unions leaving the system that they built. The regulatory topography of a new wholesale credit union system is still unclear.
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