The disclosure of the CAMEL score at the credit union of former NCUA Board nominee Carla Decker has resulted in the ban of a board member there by the NCUA.
The agency on Wednesday said it has banned James Talbert, a former board and supervisory member at the 11,000-member, $46 million District of Columbia Employees Federal Credit Union, from any further participation in the affairs of a federally insured financial institution.
An exam report and CAMEL rating from the credit union was leaked in early November prompting an NCUA investigation, and Decker withdrew her nomination to the board last month.
The NCUA said it found that Talbert had disclosed the credit union's confidential examination records and CAMEL rating, which the agency said breached his fiduciary duties in connection with his position at DC Federal Credit Union by unlawfully disclosing non-public information.
“Mr. Talbert consented to the issuance of a prohibition order to avoid the time, cost, and expense of administrative litigation,” the agency said.
Between this action and the controversy that surrounded SECU of North Carolina's release of its state regulator's CAMEL rating, NCUA has aggressively enforced the confidentiality of CAMEL ratings.
Source: Credit Union Times