Re: charge offs???? ladynred, whychat....xperts!!!

Posted by observer (205.188.208.41) on July 09, 2003 at 18:57:53:

In Reply to: Re: charge offs???? ladynred, whychat....xperts!!! posted by bean on July 09, 2003 at 17:04:49:

Actually, the FDIC is an agency of the Federal Government tasked with ensuring the soundness of the banking system. FDIC insurance has nothing to do with regulations relating to the soundness of a financial institution. A credit union is a financial institution and is bound by FDIC regs.
Not sure what argument you're trying to shape but, it's a sure loser to claim a credit union is exempt from GAAP plus, FDIC regs. in booking loans to p/l.

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