ALEXANDRIA, Va. – NCUA announced it banned James Talbert, director at D.C. Government Employees FCU, from the credit union industry for disclosing publicly the credit union’s CAMEL rating last year after its president and CEO Carla Decker was nominated to serve on the NCUA Board.
Talbert disclosed the $45 million credit union CAMEL 3 rating and other financial troubles facing the credit union to embarrass Decker and torpedo her nomination to the NCUA Board as she waited for Senate confirmation, which never came. Decker withdrew her name from consideration last month.
It is the latest dispute over public disclosure of CAMEL ratings with NCUA, which penalized the state CU Division in North Carolina for allowing State Employees' CU to make its CAMEL rating public by requiring that North Carolina's state chartered credit unions undergo dual examinations, including the traditional one by the CU Division and one by NCUA. NCUA's authority in that case is unclear because SECU disclosed its state CAMEL rating, not the one provided by NCUA. The North Carolina credit union giant has asked NCUA's Office of Inspector General to invetsigate the agency's actions in penalizing state charters for the disclosure.
Last November, NCUA Board Chairman Debbie Matz asked for an investigation to determine who was responsible for giving ut the CAMEL rating, which under NCUA regulations is confidential and non-public. NCUA determined that Talbert had breached his fiduciary duties in connection with his position at Government Employees FCU by disclosing the non-public information. Talbert, also a member of the credit union's supervisory committee, consented to the issuance of a prohibition order, which bars him from working for or with any federally insured credit union or bank..
